Category: facebook debacle

"Facebook Debacle" Will This Continue?

In this article, facebook’s being attacked on many levels.


According to Reuters, Facebook shareholders filed suit against the social network and banks including Morgan Stanley on Wednesday in U.S. District Court in Manhattan, alleging the defendants concealed a weakened growth forecast prior to the high-profile IPO.

And then here:

The lawsuit comes a day after a separate civil lawsuit was filed against Facebook, co-founder and CEO Mark Zuckerberg and underwriters alleging violations of securities laws. Nasdaq OMX Group (NDAQ: 21.61, -0.71, -3.18%) was also sued on Tuesday over trading glitches that impacted the Facebook IPO, which raised $16 billion on Friday.

It’s going to be intersting to see how all this plays out.

Frankly, I’m not worried about facebook. I do have this feeling a lot of people want to see them fail. But I don’t think that’s going to happen.