Featured Articles

Nvidia GTX 980 reviewed

Nvidia GTX 980 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Nvidia adjusts GTX 980 and GTX 970 pricing

Nvidia adjusts GTX 980 and GTX 970 pricing

It appears that Nvidia has been feeling the pulse of the market and took some note from comments regarding the original…

More...
iPhone 6 and 6 Plus reviews are up and they are good

iPhone 6 and 6 Plus reviews are up and they are good

Apple is dancing the same dance year after year. It releases the iPhone and two days before they start shipping it…

More...
Amazon announces three new tablets

Amazon announces three new tablets

Amazon has just released three new tablets starting with the $99 priced 6-inch Kindle Fire HD6. This is a 6-inch tablet…

More...
PowerColor TurboDuo R9 285 reviewed

PowerColor TurboDuo R9 285 reviewed

Today we will take a look at the PowerColor TurboDuo Radeon R9 285. The card is based on AMD’s new…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Tuesday, 05 March 2013 18:27

Facebook sued by shareholder again

Written by Nick Farrell



IPO debacle rears its head again

The stuffed up Facebook IPO has reared its head again as another shareholder has sued the company reviving legal claims that a different court dismissed in February.

Gaye Jones alleges that the company's directors and officers knew that Facebook did not disclose weaker revenue trends as more users accessed the website through mobile devices. The complaint alleges that information had been selectively shared with the company's IPO underwriters and key investors.

While similar lawsuits that were dismissed last month partly because the shareholders did not own the stock when the alleged misconduct took place prior to Facebook's May IPO, Jones has owned Facebook stock since February 2012. The lawsuit wants to force the directors and other defendants to disgorge the money they made from selling stock through the IPO which they allegedly knew was overpriced.

Facebook said in a statement that it believed the lawsuit is without merit and will defend itself vigorously.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments