Three investors sued Facebook and chief executive Mark Zuckerberg on Wednesday, along with lead underwriter Morgan Stanley and a host of other underwriters, accusing them of withholding negative information about the social network's initial public offering.
"It appears as though material information was not disclosed," said Robert Weiser, one of the plaintiff lawyers in the class action suit. "We believe that the offering was conducted unfairly and it harmed public stockholders."
Is Canada the world's next superpower?
I find it hilarious that you bring Dan Rather to talk about lies in the media. And the audacity of him defending his lies in the 2004 campaign. I used to think very highly of you, Erin, but since you moved to CNN you became one of the zombies. It is quite clear to me that you stayed at the age of kissing Rather on the TV screen.
Disgusting, but not surprising from CNN. You fit perfectly.
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Erin Burnett OutFront airs weeknights at 7 p.m. ET. Designed to showcase Erin's unique style--casual, smart, and confident--OutFront stays ahead of the headlines, delivering a show that's in-depth and informative.
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