Seeking Alpha

A panel of federal judges grants Facebook's (FB) request for dozens of IPO lawsuits - filed...

A panel of federal judges grants Facebook's (FB) request for dozens of IPO lawsuits - filed against Facebook, Nasdaq OMX (NDAQ) and underwriters - to be consolidated at an NY federal court. Some investors had wanted their cases to remain in California. The lawsuits cover both the technical issues that marred the IPO, and accusations Facebook warned analysts to cut estimates ahead of the IPO while failing to tell the public.
Comments (2)
  • IPO lawsuits? Those investors made a bad choice, just like the those who invested with Madoff.
    5 Oct 2012, 03:12 PM Reply Like
  • There was most definitely fraud involved in the IPO launch, in my opinion. Not every buyer was an evil speculator who deserved to lose money, some innocent neophytes who believed in Facebook were burned beyond recognition.
    5 Oct 2012, 06:06 PM Reply Like
DJIA (DIA) S&P 500 (SPY)