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US judge allows class actions over Facebook IPO

Wednesday 30 December 2015 | 10:07 CET | News
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A federal judge in the US has certified two shareholder class actions accusing Facebook of hiding concerns about its growth forecasts prior to the social media company's May 2012 initial public offering. US District Judge Robert Sweet in Manhattan said retail and institutional investors who claimed to lose money from buying Facebook shares at inflated prices in connection with the IPO may pursue their respective claims as groups, Reuters reports. Facebook is appealing the class certifications.

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Categories: Internet
Companies: Facebook
Countries: United States
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