4 Tech Stock Stories Rounding Out the Week
Facebook (NASDAQ:FB): Current price $28.25
Chief Executive Mark Zuckerberg, along with other executives, have just seen four shareholder lawsuits linked to Facebook’s $16 billion initial public offering in 2012 thrown out by United States District Judge Robert Sweet in Manhattan. The judge concluded that the individual investors who filed the cases failed to establish standing to sue as they were not Facebook shareholders at the time the alleged infraction took place. However, the company still faces many other claims from various plaintiffs concerning its IPO of last May, most of the centering upon allegations that Facebook executives did not to make adequate disclosures prior to the IPO in regards to weakened revenue growth projections resulting from greater use of the company’s website through mobile devices.
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