Facebook sued by shareholders. Was the high IPO a scam?

by Assassin~ Badass Buzz Guru Posted 2012/05/23 14:11:20

Related Topics: Marketing, IPO, Facebook, Bank, Lawsuit, Mark Zuckerberg, Website, Zuckerberg, District, Court, Mobile, Networking, Led

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	Yep sounds like a scam.	6 votes	55%
	No it was unintentional	5 votes	45%

May 23 (Reuters) - Facebook Inc, Chief Executive Mark Zuckerberg, and several banks led by Morgan Stanley were

sued by shareholders, who claimed the defendants hid the social
networking leader's weakened growth forecasts ahead of its $16 billion
initial public offering.

The defendants were accused of concealing from investors during the IPO marketing process "a severe and pronounced

reduction" in Facebook revenue growth forecasts, resulting from increased use of its app or website through mobile devices.

The lawsuit was filed in the U.S. District Court in Manhattan, according to a lawyer for the plaintiff.

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beach bum 2012/05/25 04:16:17

Yep sounds like a scam.

yup

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CHUCK 2012/05/23 21:07:07

Yep sounds like a scam.

FACE BOOK IS A SCAM.. DON T EVER USE YOUR PHONE # TO LOG IN..

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Xerxes,Phantom of PHAET 2012/05/23 18:42:44

Yep sounds like a scam.

When will people learn banks are not to be trusted, they only have their best interests at heart not yours, you are just a payday

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mk, Smartass Oracle 2012/05/23 18:37:05

Yep sounds like a scam.

The stock price has dropped like a rock in the first week of trading.

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Flowers 2012/05/23 16:28:34

No it was unintentional

Their own damn fault for falling for the hype. They should have asked for all the figures and "forecasted" info prior.

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Schläue~© 2012/05/23 14:52:48

No it was unintentional

Let's see, people who are gambling on the stock market are suing because of an inaccurate 'forecast'?

That's it...... ban all mobile devices.

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Grabitz 2012/05/23 14:33:43

No it was unintentional

+1
Dumb azz share holders didn't have to buy shares . They all was looking for a gold mind and got the shaft .

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das 2012/05/23 14:22:12

Yep sounds like a scam.

+1
After the price was too high, only a ridiculously small part of the company is on the market and some strange things happened during the time of trading on Friday a lot of trust is lost.

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