Face plant class action lawsuit

The law firm of Lieff Cabraser Heimann & Bernstein, LLP announces that a class action lawsuit has been brought on behalf of all persons and entities who purchased the securities of Facebook, Inc. (“Facebook” or the “Company”) (NasdaqGS:FB - News) pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with its $16 billion initial public offering of common stock on May 18, 2012 (the “IPO”).

Facebook shareholders who wish to learn more about the action, and persons with information relating to the alleged wrongdoing, should click here or contact Sharon M. Lee of Lieff Cabraser toll-free at (800) 541-7358.

Background on the Facebook Securities Class Litigation
The action is brought against Facebook, certain of its officers and directors, and the underwriters of the IPO for violations of the federal securities laws. The complaint alleges that the IPO Registration Statement and Prospectus were negligently prepared and failed to disclose material information about Facebook’s business, operations and prospects.

On May 22, 2012, reports surfaced that analysts at Morgan Stanley, JP Morgan, and Goldman Sachs, underwriters of Facebook’s IPO, had revised downward their financial forecasts for the Company during the IPO roadshow. The revised forecasts were reportedly only passed along to certain major investors who were then able to sell their Facebook shares for a profit while the stock price rose immediately following the IPO.

On May 22, 2012, Facebook shares closed at $31.00, significantly lower than the IPO price of $38.00. The Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have announced plans to investigate issues relating to the Facebook IPO.

greed is good but not for the Zuckster............

s

 

----The complaint alleges that the IPO Registration Statement and Prospectus were negligently prepared and failed to disclose material information about Facebook’s business, operations and prospects.--

feels like good old times of 2005-07. FB got AAA rating..oops..turns out it's B-

 

looks like an "F " to me.


" here come the suits............"


s

 

yep ..here they are

Facebook, banks sued over pre-IPO analyst calls

http://finance.yahoo.com/news/facebook-zuckerberg-banks-sued-over-130237689.html

ain't all fun anymore for FB executives

 

Cartoon of FB's selective earnings disclosure.
http://youtu.be/rxzitFq_eSI

 

"The stock market.........

a legal venue for a banksta and his crew to dump an over hyped IPO at triple the value to a group of retail muppets.”

s

 

i gotta tell ya, morgan did a fantastic job for their client in that it raised as much money as possible for faceplant.

I mean, if investors are indicating interest at 1 trillion dollar valuation, well why the hell not open the stock at that? Thats their job, they scored and sold at the top.