Facebook Shareholders File Class Action Lawsuit Over IPO

By Kevin Fayle on May 23, 2012 | Last updated on March 21, 2019

A group of Facebook shareholders has filed a lawsuit on behalf of all those who bought Facebook stock during the company's initial public offering. The suit accuses Facebook, Mark Zuckerberg, and other officers of the company of making false statements in the IPO prospectus that misrepresented the company's potential loss of revenue.
Facebook Shareholders File Class Action Lawsuit Over IPO