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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

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Categories: Internet
Companies: Facebook / Morgan Stanley
Countries: World
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