Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday May 01, 2013

Facebook, Bankers Want IPO Lawsuit Thrown Out

Facebook, and the bankers involved in the company's IPO, are asking the courts to throw out the lawsuits against them. Are we taking bets on the outcome? wink

Facebook is facing a host of lawsuits claiming that it misled investors about its financial health before it went public last year. Morgan Stanley and other underwriters are also targeted in many of the suits, blaming them for not warning investors on how the mobile market could hurt the company's financial condition. Last October, the lawsuits were consolidated so that they could be heard by a single federal judge in Manhattan.