Facebook Faces Lawsuit

Facebook has been undeniably becomes more and more popular each day. You can seldom encounter a person who does not have a Facebook account or who hasn't heard of Facebook. Anyway, if you are a Facebook user or an enthusiast, you must be aware that it is not just solely owned by a single person named Mark Zuckerberg. In fact it has a number of shareholders. And speaking of shareholders, A
class action lawsuit has been filed by shareholders of Facebook against the company and its IPO underwriter Morgan Stanley, claiming Facebook cut its financial estimates without informing everyone.
According to http://www.neowin.net,
The lawsuit claims that Facebook only told the large institutional investors about its lowered financial expectations during the "road show", leaving all the other interested Facebook stock buyers without that knowledge. Because that information was not put into Facebook's prospectus, the lawsuit claims it "contained untrue statements of material facts."

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