Facebook Plaintiffs Amend $15B Lawsuit on Day of Facebook IPO

By Kevin Fayle on May 18, 2012 | Last updated on March 21, 2019

In a consolidated multidistrict lawsuit against Facebook, plaintiffs have filed an amended complaint alleging that the social networking company violated the U.S. Wiretap Act by tracking users of the site even after they had signed out of the Facebook site. The lawsuit requests damages of $15 billion, and comes on the same day that the company made its initial public offering on the Nasdaq exchange. The IPO valued the company at $104 billion.
Facebook Plaintiffs Amend $15B Lawsuit on Day of Facebook IPO