Looks like it’s turning into a disaster of TITANIC proportions!! Today several Shareholders are issuing a lawsuit against Mark Zuckerberg and a number of banks because they feel that the Banks and Facebook changed the projections on the value of Facebook shares and only shared that information with those who were buying MAJOR chunks of the Facebook shares. They shares opened at about $38 and have since lost about 18% of it’s value. Government Financial Regulators are looking into a report that Morgan Stanley, the lead underwriter for Facebook’s initial public offering last week, shared a negative assessment of the social network with major clients ahead of the IPO.
That means that the general public was lead to believe that the stocks in Facebook were going to be HOT !! Several people have lost thousands of dollars since Monday’s debut of the Facebook Shares…. But Mark, himself, has lost BILLIONS and with this new lawsuit looks like he’s got billions more to lose !!
You know somebody is gonna create a Facebook profile about this!! And looks like there will be a ton of people who will “like” that page!