Around the Net
Facebook Fights Lawsuit
- Reuters, Thursday, May 2, 2013 11:47 AM
Along with a band of banks, Facebook is asking a federal judge to throw out a lawsuit accusing the social network of misleading investors about its financial state prior to its $16 billion IPO. As
Reuters reports: “The defendants said … that before the IPO last May 18, Facebook had no obligation to publicly disclose internal projections on how increased mobile usage and product
decisions might affect future revenue, even if it had provided the projections to its underwriters' analysts.”
