Morgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. were sued along with other underwriters and Facebook Inc. by investors who claimed they were misled in the purchase of the social network firm's stock.

  • Facebook, banks cannot hide from IPO lawsuit: Judge
    Facebook and its underwriters cannot ... Angry shareholders sued the company for failing to disclose the details regarding "severe and pronounced reduction" in forecasts of the company's revenue growth. When the IPO opened on May 18, 2012, Facebook shares ...
    12/18/2012 - 11:00 am | View Link
  • Biz Break: Facebook investigation, lawsuit show fruit; Apple falls, rebounds; Netflix jumps on Microsoft buyout rumors
    Investigations into other underwriters ... lawsuit that began long before Facebook's IPO reached a dramatic seeming conclusion Friday, as federal authorities arrested Paul Ceglia and charged him with fraud. Ceglia had sued Facebook co-founder and CEO ...
    10/27/2012 - 9:30 am | View Link
  • IPO Quiet Time: Banks Can't Let Go
    The choice of a 25-day "quiet period ... be sued by investors if predeal research makes projections or assumptions that don't pan out, according to several lawyers who work with them. This was illustrated by lawsuits filed after the IPO of Facebook ...
    08/20/2012 - 1:41 pm | View Link
  • Facebook investor outrage focuses on ‘whisper’ estimates
    San Francisco In the aftermath of the Facebook ... and their underwriters worry that if they publicly disclose specific financial forecasts, they could be sued if the company ends up missing those estimates. If analysts’ pre-IPO estimates reflect their ...
    06/6/2012 - 9:00 pm | View Link
  • After the IPO: Facebook shops while stock drops
    I think we can safely say the Facebook IPO didn't exactly ... information with its underwriters that it didn't bother to tell the rest of the world, causing them to short the stock ahead of trading. Now Facebook is being sued by investors who missed ...
    05/30/2012 - 5:58 am | View Link
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