Mark Zuckerberg - Mark Zuckerberg Sued By Facebook Investors

Furious Facebook.Com investors have filed a lawsuit against founder Mark Zuckerberg, alleging he knew the business had been overvalued ahead of its flotation last month (May12).
Zuckerberg floated his social networking site on the U.S. stock market for $100 billion (£63 billion) but shares soon dropped in price, prompting complaints from many investors.
Critics allege the Ceo knew the stock was overpriced and protected his own finances by selling off the organisation, according to Tmz.com.
Editors at the website report a lawsuit has now been filed against Zuckerberg, in which it's alleged the site did not generate enough revenue from advertising to warrant selling shares at $38 (£25), and that this information was passed on by Morgan Stanley, JPMorgan, and Goldman Sachs prior to the flotation.


Contactmusic

Tags: Mark Zuckerberg - CEO

Advertisement

More Mark Zuckerberg

The ALS Ice Bucket Challenge - Everybody's Doing It (But You Probably Shouldn't)

This week in news: celebrities are filming themselves getting buckets of ice poured over their heads. This is what millions of years of evolution has...

Celebrities Take Part In The ALS Ice Bucket Challenge [Photos]

It’s not just you and your friends getting nominated to take the ALS awareness ice bucket challenge; celebs from lists A-Z are getting involved, and...

Advertisement

How The Oculus Rift Virtual Reality Headset Will Change Life As We Know It

Facebook have been splashing out a lot of money lately! Although, we have to say, the $2 billion that they’ve spent on the Oculus Rift...

Miley Cyrus' Rather Polite Stalker vs. Other Celebrity Stalkers

Miley Cyrus has a fairly polite (but gramatically challenged) stalker. Instead of hiding in her dressing room wearing a ghostface mask and brandishing duct tape,...

Mark Zuckerberg walking to his car, to head out for a low key lunch to celebrate his 27th birthday with girlfriend Priscilla Chan

Mark Zuckerberg walking to his car, to head out for a low key lunch to celebrate his 27th birthday with girlfriend Priscilla Chan. The internet...

Advertisement

Comments

Mark Zuckerberg Newsletter

Subscribe to this news alert service to receive news and reviews on Mark Zuckerberg

Unsubscribe | Unsubscribe All