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Facebook, Zuckerberg, Morgan Stanley Sued Over IPO [REPORT]
Shareholders have sued Facebook and CEO Mark Zuckerberg over the company’s bungled IPO, charging they hid bearish forecasts prior to going public, according to a report. The suit 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, according to Reuters. The lawsuit was filed in the U.S. District Court in Manhattan, according to Reuters, which did not provide further details. More to come. More About: facebook ipo, lawsuits, mark zuckerberg, Morgan...
Published By: Mashable - Wednesday, 23 May, 2012
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