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Morgan Stanley (NYSE:MS) has an underwriting role in the filing of preliminary paperwork on behalf of Facebook for a $5 billion initial public offering, reports IFR. Also taking a role are Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC), Barclays Plc. (NYSE:BCS), and JPMorgan Chase & Co. (NYSE:JPM) which are also part of the syndicate, sources close to the deal say.
Investing Insights: Bank of America Leads Dow Jones Industrial Average on a Positive Day.
Credit Suisse (NYSE:CS) former employee David Higgs pleads guilty. He fesses up to conspiracy, as United States prosecutors file criminal charges against former Credit Suisse traders alleging they misstated the value of mortgage bonds, an issue central to the 2008 financial crisis.
Royal Bank of Scotland (NYSE:RBS) agrees to sell its Hoare Govett corporate brokerage operations and transfer certain other professionals to Jefferies Group Inc. (NYSE:JEF), which will pay a small amount in cash for the unit.
Wells Fargo (NYSE:WFC) completed its acquisition of United Kingdom lender Burdale Financial Holdings and the portfolio of Burdale Capital Finance from the Bank of Ireland (NYSE:IRE).
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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
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