Lawsuit Filed With Facebook
Facebook being sued after initial IPO for possible untrue statements.
Facebook has currently had a lawsuit filed against it for possibly having untrue information about its statements. There has been talk about having a different listing but this has not happened yet.
We have already seen the price drop because of the poor IPO listing and other factors but NASDAQ have even declined to comment on this events. The lawsuit claims that important information was omitted from the IPO that could have lead to a more accurate underwriting. The litigants claim that they were damaged by the IPO and are now seeking damages.
Only time will tell what will happen to the future of Facebook and its IPO. The future of how this process will fan out will determine the future of Facebook being on a public exchange and how it will build a reputation of dealing with lawsuits. Keep following news on Facebook to find the startling conclusion.