The class-action lawsuit filed against Facebook and the Wall Street banks that underwrote Facebook’s IPO alleges that the defendants hid the company’s weakened growth forecasts from a majority of investors. Shareholders filing the lawsuit claim that research analysts lowered their business forecasts for Facebook during the IPO process, but this decrease was selectively disclosed by defendants to certain investors, rather than to the public at large.
Specifically, the complaint indicates that Facebook failed to disclose to the investing public that the company was experiencing, and anticipating, a significant drop in revenue due to an increased number of users accessing Facebook through mobile devices.
Class action lawsuits rarely result in full compensation to individual investors, however. If you www.fortheinjured.com/facebook-class-action-lawsuit.html">invested in the Facebook IPO and lost $50,000 or more and want to learn more about opting out of the class action lawsuit, contact the securities lawyers at Gordon and Doner to schedule a no-obligation consultation.
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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561-253-6712
pressrelease@pmpmg.com
Source: EmailWire.Com
