Wednesday, May 23, 2012

Facebook lawsuit

  • (Reuters) - Facebook Inc and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking companys weakened growth forecasts ahead of its $16 billion initial public offering.
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  • SAN FRANCISCO (MarketWatch) — Shares of Facebook Inc. notched their first notable gains on Wednesday morning following the social network's messy debut last week. In early trading, Facebook (NASDAQ:FB)  shares were up more than 2.6% at $31.84.
  • (Marketwatch)
  • Larry Yu, a spokesman for Facebook, declined to comment.
  • (Bloomberg)
  • This story comes from the Yahoo! Contributor Network, where individuals publish their unique perspectives on some of the world's most popular websites.
  • (YAHOO!)
  • Facebook and its underwriters came under broad legal attack Wednesday as lawyers and investors filed lawsuits over Facebook's controversy-marred initial public offering.
  • (Raw Story)
  • Facebook Inc.s stock is up $1.03, or 3.3 percent, to $32.03. Thats still nearly 16 percent below the initial public offering price of $38.
  • (Yahoo Finance)
  • PHILADELPHIA, May 23, 2012 (GLOBE NEWSWIRE) -- Law Offices Bernard M. Gross, P.C.
  • (FB - Yahoo Finance)
  • NEW YORK, May 23 (UPI) -- Three Facebook investors have filed a civil lawsuit in New York federal court alleging the company and its underwriters failed to disclose forecast changes.
  • (United Press International)
  • Facebook shares rebounded 3.23%, on Wednesday, finishing the day at $32 after dropping over 30% from its $45 opening day high. Wednesday's 3.
  • (Examiner)
  • (CNET) Facebook has settled a lawsuit over its sponsored stories feature, in which plaintiffs claimed the social network violated users right to privacy by publicizing their likes in advertisements without asking them or compensating them.
  • (CBS News)

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