Facebook stock climbs, but company faces lawsuits
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.
Facebook has settled a lawsuit over their Sponsored Stories feature out of court today. The terms of the settlement have not been disclosed. A document filed yesterday (PDF) notified the court that the parties in the case had
(AP Photo/dapd, Joerg Koch) 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
They say Facebook's "prospectus contained untrue statements of material facts."
Such are the latest allegations with regard to last Friday's Facebook initial public offering, which have led to a lawsuit filed against the social network and banks including Morgan Stanley today, following the call for an