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

Wednesday December 30, 2015

Facebook Must Face Shareholder Class Actions Over IPO

It looks as though Facebook will be facing at least two class action lawsuits relating to the company's IPO back in 2012. Facebook says it will appeal the ruling.

U.S. District Judge Robert Sweet in Manhattan said retail and institutional investors who claimed they lost money by purchasing Facebook shares at inflated prices may pursue their respective claims as groups. The decision is dated Dec. 11 but had been kept under seal, which Sweet lifted in an order made public on Tuesday.