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It’s been over three weeks since Facebook launched its $16 billion IPO, and as you’ve heard by now, it’s belly flopping on the NASDAQ. Wall Street and Silicon Valley VCs are in an uproar over the company's 30-percent stock decline and $25 share value, with some shareholders already looking to recoup their loses by suing CEO Mark Zuckerberg for withholding info on the company’s true value during its public outing.

Parent company Conde Nast may still think the web is not that important, but The New Yorker does. The 87-year-old magazine decided to make a “big investment” in its website six to eight months ago, Nicholas Thompson, editor of newyorker.com, says. The web team was expanded to 12 full-time employees, including Thompson, who was named editor in March after working “on the magazine side” as a senior features editor for two years. Editor-in-chief David Remnick thought he would be a good fit for the website in part because he had a background in technology coverage, having spent five years as a senior editor at Wired, Thompson says.

Software for the Apple iPhone, iPad and iPod Touch, dubbed iOS 6, is expected to be announced at the Worldwide Developers Conference.

The world of Wintel - Microsoft, Intel and the Taiwan-based companies that build the computers their products power and run on - is taking a huge collective bet on Windows 8.

Stung by claims in recent weeks that its advertising doesn’t work, Facebook is pouring on the public relations to insist that in fact, ads work just fine on the site. But while some of the claims of critics rest on shaky evidence, many questions about Facebook’s value as an advertising medium remain among the brands that constitute the bulk of all advertising online and off.

Yahoo has seen a lot of turmoil and restructuring in the past couple of months, but it may finally be getting back on track with new product launches. It launched Yahoo Axis, a new search oriented add-on for web browsers last month... By leveraging Yahoo's 700 million user base, Axis could attract a significant number of users in the coming months.

UBS is sitting on losses that could be as high as $350 million stemming from its investment in the Facebook initial public offering, and is preparing legal action against Nasdaq as a result, people familiar with the matter told CNBC.

U.S. Circuit Court Judge Richard Posner has tentatively decided to dismiss the ongoing patent litigation between Apple and Google’s newly acquired Motorola Mobility unit, the Wall Street Journal reports. A trial in the case had been scheduled to start Monday.

As a safety demonstration, it was a heart-stopper: A Ford Taurus was seconds away from cruising through an intersection when suddenly a row of red lights pulsed on the lower windshield and a warning blared that another car was approaching fast on the cross street.