Facebook to be sued over shares
Facebook and banks including Morgan Stanley are being sued by shareholders who claim the defendants hid Facebook's weakened growth forecasts when shares went on sale for the first time last Friday.
Facebook shares now down to 17% below IPO price
Shares in Facebook fell again at the open today as doubts about the company's valuation increased after Reuters reported that underwriters cut their revenue forecasts for the social networking site shortly before the IPO.
Facebook's shares hit a low of $31.73, 7.4% below Monday's close, and are now trading down 17.1% down from their $38 IPO price. The shares are down 30% from a high of $45 hit shortly after they started trading on Friday.
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Facebook to be sued for 'misleading' investors
Facebook and Morgan Stanley are being sued by shareholders who claim weakened growth forecasts were hidden ahead of shares being sold.
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Zuckerberg down to last $17bn as Facebook shares sink
If Facebook can get around privacy issues to use advertising better and capitalise on markets like China and Russia, prices should recover.
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Who is hitting the 'unlike' button on Facebook?
After all the hype about the most expensive flotation of a company ever, Facebook shares are well down on what they were when launched.