May 23rd, 2012
02:02 PM ET

Attorney for plaintiffs suing Facebook: 'we don't have to prove fraud to be successful'

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."



Filed under: Economy • Tech
soundoff (2 Responses)
  1. luissantana

    Is Canada the world's next superpower?

    May 24, 2012 at 2:27 pm | Reply
  2. Bava Cohen

    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.

    May 23, 2012 at 7:59 pm | Reply

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