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Facebook sued

FinsQ (service provider) (54 Points)

24 May 2012

Shareholders have sued Facebook and CEO Mark Zuckerberg over the company’s bungled IPO, charging they hid bearish forecasts prior to going public.

Charges that Facebook and its lead underwriter concealed “a severe and pronounced reduction” in Facebook revenue growth forecasts before the company’s shares were offered to the public.

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1 Replies

MJ Krishnamurthy (ACCT(Retd)) (7197 Points)
Replied 24 May 2012

Mr Finsq,

This is a good peice of information.No one can ever exactly know what is happening in the USA's financial markets. This is only one such example. The sub-prime crisis/housing buble and the subsequent bancruptacy of large financial institutions,like Lehman bros etc ,and smaller banks in thousands, have sunk layman's savings/investments in trillions of dollars. They are ,in fact,playing with somebody's money. Lot of money stashed by arabs and latin american businessmen and politicians in USA's banks are being used for all speculative financial deals.No one knows when it all will colapse.

MJK

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