Thursday, 24 May 2012
Facebook stock climbs, but company faces lawsuits
By Shelly Palmer Facebook Inc and lead underwriter Morgan Stanley were sued by shareholders who claimed they hid the social networking company's weakened growth forecasts ahead of its $16 billion initial public offering.The lawsuit came as Facebook andThey say Facebook's "prospectus contained untrue statements of material facts."By BARBARA ORTUTAY Facebook's fourth day of trading as public company brought shareholder lawsuits, and an increase in the company's stock
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