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Facebook being sued, accused of misleading investors |
Meagan Clark |
Facebook stock has been on the market for less than a week and the company is already facing a lawsuit.
Three investors are suing Facebook and its initial public offering underwriters for allegedly hiding unfavorable growth forecasts before the company's $16 billion IPO last Friday, according to Reuters.
Investors Dennis Palkon and Brian Roffe bought 1,800 and 200 Facebook shares, respectively, at the IPO price, and Jacob Salzmann paid more than $123,000 on Friday for 2,961 shares at an average $41.77 each. |
| Read more at The Daily Caller... |
Victor Cuvo, Attorney at Law
770.582.9904
(sent from new iPad)
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