Facebook, Zuckerberg Sued Over IPO

Posted by timothy on Wednesday May 23, 2012 @03:40AM from the death-taxes-and-lawsuits dept.

mrquagmire writes with this snippet from CNET: "Facebook shareholders have sued the social network, CEO Mark Zuckerberg, and a number of banks, alleging that crucial information was concealed ahead of Facebook's IPO. The lawsuit, filed in the U.S. District Court in Manhattan this morning, charges the defendants with failing to disclose in the critical days leading up to Friday's initial public offering 'a severe and pronounced reduction' in forecasts for Facebook's revenue growth, as users more and more access Facebook through mobile devices, according to Reuters, which cited a law firm for the plaintiffs."

4 of 445 comments (clear)

Min score:

Reason:

Sort:

So that's really why he gave up his citizenship? by i_ate_god · 2012-05-23 03:44 · Score: 5, Funny

It wasn't because of taxes, it was because of fraud? hmm

--
I'm god, but it's a bit of a drag really...
Re:So that's really why he gave up his citizenship by Anonymous Coward · 2012-05-23 04:04 · Score: 5, Funny

But isn't Canada just one of the states of the United States?
Re:So that's really why he gave up his citizenship by Anonymous Coward · 2012-05-23 04:10 · Score: 5, Funny

And oil and water, bitches! Don't even think about comin' up here and *liberating* us.
Re:So that's really why he gave up his citizenship by davidbrit2 · 2012-05-23 06:48 · Score: 5, Funny

They didn't so much "gather". Everybody else just froze to death.