easy on Zuckerberg
he's just an American success story.
nothin to see here.
move along.
Facebook investors sue Mark Zuckerberg for insider trading
By JohnThomas Didymus
Jun 4, 2012 in Business
Facebook investors have filed a class action lawsuit against Mark Zuckerberg, Facebook CEO, alleging that he had inside information that the stock was overvalued and that he protected his financial interests by unloading Facebook shares worth $1 billion.
According to MyFoxny.com, the suit alleges that Zuckerberg knew that the shares were valued too high and that he dumped them as the price dropped following the IPO.
TMZ reports that the lawsuit claims that Zuckerberg and his associates knew that there was not enough advertising revenue to support a $38 per share stock valuation. According to The Inquisitr, they hid the information in order to push up the share price for the initial public offering.
TMZ reports the lawsuit claims that
Morgan Stanely, JPMorgan, and Goldman Sachs raised alarm before the IPO that Facebook was grossly overvalued, but the vital information was disclosed selectively to large investors. According to NY Post, many analysts had expressed doubts about Facebook's valuation and its ability to compete with Google Inc.
WebProNews reports this is not the first time Zuckerberg has been sued after Facebook went public. A week after the IPO, Facebook was sued for hiding "unfavorable growth forecasts."
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Facebook investors sue Mark Zuckerberg for insider trading
all in the family.
no prob.
he paid his tuppence fine and continues on his merry plundering way.
while working for da MOBCIA.
old news.
*face palm*
