May 24, 2012

Investors sue Facebook, advisers as scrutiny of IPO hype intensifies

Investors sue Facebook, advisers as scrutiny of IPO hype intensifies:
It was just the kind of information that could make you a million. But you couldn’t find it on Facebook or, for that matter, anywhere else on the Internet.
In mid-May, as the social-networking company prepared for a public sale of its stock, an analyst at Morgan Stanley began advising clients orally that Facebook profits would probably be lower than previously estimated.
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