Shareholders sue Facebook, Zuck, Morgan Stanley and banks over ‘untrue statements’ made during IPO marketing


See on Scoop.itten Hagen on Social Media

In case you’re also following the kerfuffle in the aftermath of Facebook’s big IPO, here’s the latest update from Reuters:

 

In a lawsuit seeking class action status, filed in the U.S. District Court in Manhattan, Facebook shareholders are suing the company, co-founder and CEO Mark Zuckerberg and several banks including lead underwriter Morgan Stanley.

The lawsuit claims shareholders were duped by the hiding of Facebook’s weakened growth forecasts.

See on thenextweb.com



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