A US judge has thrown out a set of four shareholder cases against Facebook, Mark Zuckerberg and other senior staff over its IPOcalypse, and although it still faces many more, things are looking up for Zuck. All four suits rested on allegations that the social network and its officers had withheld certain information from …
The shares have not yet recovered to the initial $38 price-tag Facebook put on them.
And in other news, hell has not yet frozen over...
and the "yet" in that sentence would appear to be completely superfluous. I think we all know that the price will never get back to $38
When you talk about Wall Street
Never say never
I'm with FB
Anyone using the smallest degree of intelligence and doing some very simple sums would have known that buying FB shares at the IPO offer price was like burning money.
Re: I'm with FB
Making Money, actually... Or, that's what quite a few people thought.
Quite a bit of the damage done was to notorious short-sellers. Which in and of itself has a sense of poetic justice to it.
always struck me as a bit of mugs game.
You could make a bit (or a lot) of money, but equally you could lose it all.
Surely you know that going in, and you pay your money and take your chances.
Oh come on man...!
...he's called Judge...Sweet...This is straight out of Alan Moore's deranged dystopian vision of the future of law enforcement.
Lots of lols...
I don't much care one way or the other what happens to Facebook, but it's nice to see some lawsuit trolls being promptly put in their place. If only the little guy/company could do it as easily as this multinational corporation just did...
Is there a "Like" for that?
Will FB make a page and then promptly program a "Like" button to be "pressed" with 6,000,000,000 likes and 1 dislike?
If it does, it might see an enhancement to the lawsuit against it:
Sorry... Could... Not... Re... Zist...
Surely it's not Facebooks fault the stock isn't worth what people paid for it.
Surely it is Facebook's fault. Along with the 40 thiefs commonly known as Wall St.
"False advertising. Any advertising or promotion that misrepresents the nature, characteristics, qualities or geographic origin of goods, services or commercial activities" (Lanham Act, 15 U.S.C.A. § 1125(a)"
False advertising applies not only to the products and services a corporation sells but of the value of the shares of that corporation.
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