The Facebook class action lawsuit was filed against the social networking conglomerate and the Wall Street banks that underwrote the IPO. The lawsuit alleges that the defendants hid the company’s weakened growth forecasts from many investors, only sharing this information with a select few.
Facebook’s highly anticipated initial public offering turned into a huge debacle on Wall Street. The claim filed in May alleged that analysts at lead underwriter, Morgan Stanley, received privileged information regarding Facebook’s financials that was not disclosed to the investing public at large.
The complaint implies that Facebook failed to disclose that the company was both experiencing and anticipating a significant drop in revenue due to the increase in mobile Facebook users.
Typically, class action settlements rarely provide fair compensation for those involved. Facebook IPO investors involved in the lawsuit may not recover all their losses.
If you invested in the Facebook IPO and lost over $50,000 and want to learn more about opting out of the class action lawsuit, contact the attorneys at Gordon and Doner to schedule a confidential, no-obligation consultation. Visit the law firm’s website at http://www.fortheinjured.com and complete the Free Case Review form to begin exploring your legal options.
About Gordon and Doner
Gordon and Doner is committed to helping all those who have been injured by the actions or negligence of another person or entity. The personal injury law firm based in West Palm Beach, Florida handles all types of personal injury claims including auto accident injuries, dangerous drug litigation, medical malpractice, product liability claims, premises liability and maritime law.
Gordon & Doner, PA
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Source: EmailWire.Com
