Facebook Inc.’s botched initial public offering is turning into a potential legal morass for the social-networking firm, its investment bankers and the exchange on which it went public.
About 50 lawsuits have been filed against Facebook, Nasdaq and underwriters of Facebook’s May IPO. Aaron Lucchetti reports on Markets Hub. Photo: Reuters.
About 50 lawsuits have been filed against Facebook, Nasdaq OMX Group Inc. and underwriters of Facebook’s May IPO, according to lawyers involved in the cases. Agence France-Presse/Getty Images
About 30 lawsuits name Facebook as a defendant; the rest focus on Nasdaq, underwriters and directors.
Read also:
Forget Facebook: These Newly Listed Stocks Yield Up to 18%… (StreetAuthority)
Will Facebook's Legal Concerns Slow Its Progress? (Marketing Pilgrim)
IPO Haunts Facebook With More Lawsuits (ValueWalk)
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