Wow, that was quick
- there are at least 2 class action lawsuits filed. According to http://dealbreaker.com/2012/05.....-facebook/
It did not take long for plaintiffs’ lawyers to realize that there was good money to be made by complaining about the Facebook IPO – there are at least two class actions against the company and underwriters so far, not to mention other class-action lawsuits against NASDAQ for screwing up trades.
- Apparently Morgan Stanley and other underwriters are accused of withholding negative information about the social network's initial public offering.
"It appears as though material information was not disclosed," said Robert Weiser, one of the plaintiff lawyers in the class action suit. "We believe that the offering was conducted unfairly and it harmed public stockholders."