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Facebook IPO draws lawsuits

Original post made on May 28, 2012

The anticipation over Facebook's May 18 IPO quickly nosedived into dissatisfaction, judging by the multiple class action lawsuits the social networking company now faces.

Read the full story here Web Link posted Monday, May 28, 2012, 3:08 PM

Comments (3)

Posted by incompetent or corrupt?, a resident of Menlo Park: Downtown
on May 28, 2012 at 4:05 pm

Corrupt price manipulation? Or incompetent IPO? Or both?


Posted by friended, a resident of Menlo Park: Felton Gables
on May 28, 2012 at 4:49 pm

Wasn't the company, they put the info into the S1. Was the banksters.

Be an interesting trial. My guess is they settle.


Posted by Jim, a resident of Menlo Park: Park Forest
on May 29, 2012 at 5:29 pm

The whole world of stocks is suspect! Companies can virtually print money. They should have to borrow money like everyone else has to. In this case, Facebook and its partner IPO firms got too greedy and priced the stock too high, and they issued way too much stock. If the world of stocks is somehow necessary, there should be a law that companies can't issue stocks to their own officers and managers and employees. Consider: The whole reason for selling stocks is to help finance a company's growth, not make its founders rich. Because Zuckerberg was given so much stock, he, and not the private buyers of the stock, owns the controlling interest in the company. If you like gambling, stocks are for you.


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