Facebook faces class-action suit over IPO info

Friday 25 May 2012 | 11:41 CET | News
A law firm has started a class-action suit over Facebook's IPO. The firm Kessler, Topaz, Meltzer & Check filed the suit in US District Court for the Southern District of New York on behalf of purchasers of Facebook shares. The complaint charges Facebook and certain of its officers, directors and underwriters with violations of the Securities Act of 1933. It alleges that the company and its underwriters failed to disclose and misrepresented material adverse facts about the company's results to potential investors. This includes a marked slowdown in revenue growth due to a growing number of

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.


Already registered?

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Internet
Companies: Facebook / Morgan Stanley
Countries: World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Facebook reaches USD 35 mln settlement over IPO info

Published 27 Feb 2018 08:31 CET | World
Facebook and its CEO Mark Zuckerberg have reached a USD 35 million settlement of a class-action lawsuit accusing them of hiding ...

US judge allows class actions over Facebook IPO

Published 30 Dec 2015 10:07 CET | United States
A federal judge in the US has certified two shareholder class actions accusing Facebook of hiding concerns about its growth ...

Nasdaq asks court to dismiss Facebook IPO class actions

Published 03 Jul 2013 08:03 CET | United States
The Nasdaq stock exchange has asked a US judge to dismiss a group of class-action lawsuits against it by traders and investors ...

Nasdaq to pay USD 62 mln in Facebook IPO losses

Published 26 Mar 2013 15:30 CET | United States
The US Securities and Exchange Commission approved Nasdaq OMX Group's plan to pay customers as much as USD 62 million for losses ...

Facebook makes Mexico stock exchange debut

Published 03 Oct 2012 07:12 CET | Mexico
Facebook debuted on the Mexican Stock Exchange (BMV) via the International Quotation System at MXN 238 (approximately USD 22) per ...

Nasdaq offers compensation for Facebook IPO

Published 07 Jun 2012 09:17 CET | World
Nasdaq OMX is offering dealers USD 40 million in compensation for technical problems the day of Facebook's listing. Pending SEC ...

Russia's VKontakte postpones IPO after Facebook concerns

Published 30 May 2012 09:40 CET | Russian Federation
Russian social network VKontakte says it is postponing its IPO indefinitely following the disappointment over Facebook's ...

Facebook: from hype to hysteria to realism

Published 25 May 2012 13:20 CET | United States
Facebook has gone from hype to hysteria in barely two weeks. The biggest IPO of a technology company ever - with proceeds of USD ...

Facebook faces regulatory review of IPO - report

Published 23 May 2012 10:19 CET | United States
US financial regulators could review the issues around Facebook's IPO, following a significant drop in the company's share price ...

Facebook confirms IPO pricing of USD 38 per share

Published 18 May 2012 10:45 CET | World
Facebook has confirmed the pricing of its IPO at USD 38 per share. The shares are expected to begin trading on the Nasdaq Global ...

Facebook hikes IPO price range due to strong demand

Published 15 May 2012 10:52 CET | World
Facebook has increased the price range for its IPO from USD 28-USD 35 to USD 34-USD 38 a share, reports Reuters citing an unnamed ...

Facebook warns of mobile weakness in amended IPO filing

Published 10 May 2012 10:29 CET | World
Facebook has has revealed a vulnerability in mobile as it updated its IPO regulatory filing, reports the Financial Times. The ...

Facebook prices IPO, to raise up to USD 13.6 bln

Published 04 May 2012 07:59 CET | World
Facebook has announced further details of its initial public offering of shares, which will see the social network raise up to ...

Facebook profit drops, revenue growth slows in Q1

Published 24 Apr 2012 10:07 CET | World
Facebook reported a fall in net profit in the first quarter, to USD 205 million from USD 233 million a year earlier, due a strong ...