Investors angry about information disclosed before the IPO.
A writ filed in a Manhattan court alleges that Facebook and the banks that lead its recent floatation did not inform all investors of its revised growth figures.
Morgan Stanley has already been brought up by U.S. financial regulators, who say the firm may have questions to answer about the highly-publicized Facebook IPO. The ... [ read the full article ]
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Originally posted by TrinUK: Muahahaha..... DOT COM fraud all over again.
There was never a DOT COM fraud. There was a DOT COM 'bubble' where starting with eBay, the dot coms became super over priced and then one day the market corrected those errors. There was little if any fraud or collusion it was more of the 'herd' or lemming mentality.
This is pretty much, way different. Still not much fraud. This was more akin to insider trading. Big clients were given different information than what the public got. People ought to go to jail on this one. Giving out inside information or using it is a jail-able offense.
Originally posted by TrinUK: Muahahaha..... DOT COM fraud all over again.
There was never a DOT COM fraud. There was a DOT COM 'bubble' where starting with eBay, the dot coms became super over priced and then one day the market corrected those errors. There was little if any fraud or collusion it was more of the 'herd' or lemming mentality.
This is pretty much, way different. Still not much fraud. This was more akin to insider trading. Big clients were given different information than what the public got. People ought to go to jail on this one. Giving out inside information or using it is a jail-able offense.
This is fraud, something was deliberately mis-sold and people knew about it before sales begun. No different to the housing crash in the US, same thing. The US banks deliberately sold bad debt with shoddy fraudulent paperwork to European banks and messed them up big time.
The real problem is facebook only makes 1 billion a year, and bankers valued facebook at 100 billion, so it's over valued for a start.
You could never expect it to keep it's value no matter what.
He only went public so it couldn't be taken over by that napkin guy, that alone should have been a red flash but I guess people don't look at these things.
Originally posted by TrinUK: Muahahaha..... DOT COM fraud all over again.
There was never a DOT COM fraud. There was a DOT COM 'bubble' where starting with eBay, the dot coms became super over priced and then one day the market corrected those errors. There was little if any fraud or collusion it was more of the 'herd' or lemming mentality.
This is pretty much, way different. Still not much fraud. This was more akin to insider trading. Big clients were given different information than what the public got. People ought to go to jail on this one. Giving out inside information or using it is a jail-able offense.
This is fraud, something was deliberately mis-sold and people knew about it before sales begun. No different to the housing crash in the US, same thing. The US banks deliberately sold bad debt with shoddy fraudulent paperwork to European banks and messed them up big time.
Have you EVER seen a completely truthful advertisement? You ought to have a lick of sense before playing the stock market. Sorry I disagree with you. I actually was going to buy some but I thought the price was about 3X too high and didn't.
