Loans and Finance

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News and information about loans, money, debt, finance and business issues.

Wednesday, May 23, 2012

Facebook Sued - The Faecesbook Clusterfuck

As I have noted twice today, the Faecesbook IPO is the IPO, for people who didn't touch the shares with a bargepole, that just keeps giving.

Reuters reports that Facebook Ince, Facebook Chief Executive Officer Mark Zuckerberg, and various banks including Morgan Stanley are now being sued by disgruntled investors. They are accused of concealing from the investors, during the IPO marketing process, "a severe and pronounced reduction" in revenue growth forecasts.

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