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back to article Facebook IPOcalypse cases: One lawsuit to end them All

The 57 different cases against Facebook or the NASDAQ over the free-content ad firm's disastrous IPO have all been mashed up into one uber-lawsuit to be heard in New York. The technical glitches that marred the first day of Facebook's stock trading have been blamed by many for the share's low prices, sparking class action …

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  1. Trokair 1
    FAIL

    Great Lesson

    I fell for it. Hook line and sinker the promise of quick returns on an IPO lured me right in. Once the "magic" wore off (see 2 hours after open) I started doing the research I should have done myself and discovered my mistake. I wasn't in for much and I cashed out before I lost the majority of it but I still lost. Lesson learned, luckily on the cheap side for me.

    3 1
    1. JDX Gold badge
      Reply Icon

      Re: Great Lesson

      If the IPO hadn't broken they might well have made a decent 1-day trade.

      Serious question before all the FB haters wade in.... why is/would FB itself be liable for failures in actually processing the IPO and making trades through the exchange?

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      1. SteveK
        Reply Icon

        Re: Great Lesson

        I'm guessing FB isn't being held liable for that part, but appears to be accused of withholding other information, specifically lack of advert growth.

        And I guess if the lawsuits target enough people and companies, it increases the odds that one of them did or said or didn't say something that could be regarded as critical.

        3 0
        1. JaitcH
          Reply Icon

          Some second leve in FB l ...

          selected the initial price.

          0 0
      2. mIRCat
        Reply Icon
        Holmes

        Re: Great Lesson

        I believe Facebook is included because they failed to reveal, except to a select few, they don't know how to make money.

        The accountants tell Zuck it grows on trees in the back and he believes them.

        Because everyone should know creating money from nothing is elementary!

        1 0
        1. JDX Gold badge
          Reply Icon

          Re: Great Lesson

          It still seems odd then this would be one mega-suite, rather than one for the IPO and one for the information non-disclosure. They seem very different things.

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    2. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: Great Lesson

      There's always some schmuck to con.

      1 0
    3. Anonymous Coward
      Reply Icon
      Trollface

      Chairs are like Facebook

      because if you turn one upside down then four investors can get fucked at once

      3 0
  2. Anonymous Coward
    Anonymous Coward

    SHARES

    OMG I GOT A PAYDAY LOAN TO BYE SOME SHARES IN FACEBOOK AFTER ALL MY MATES TOLD ME IT WOULD BE LIKE GOOGLES IN HALF THE TIME NOT ONLY THAT I HAD HOLIDAY MONEY SAFED UP WHICH I SPENT AN ALSO SOLD MY DAUGHTERS XBOX YOU CAN IMAGINE HOW SHE FELLS ABOUT IT NOW I HAVE LOST LOADS AND THINK PEOPLE LIKE ME SHOULD DEMAND A.N.S.W.E.R.S

    1 3
    1. Raz
      Reply Icon
      Pint

      Re: SHARES

      Good one, have a beer!

      2 1
    2. Anonymous Coward
      Reply Icon
      FAIL

      Re: SHARES

      The value of investments can go up as well as down

      1 0
      1. Anonymous Coward
        Reply Icon
        Anonymous Coward

        Re: SHARES

        The value of investments and money goes down.

        There, fixed it for you.

        1 0
  3. mIRCat
    Paris Hilton

    What, no 'current price at the time of going to press'!? Am I to be expected to make a few extra clicks and find this information myself!?

    Horrible journalism!

    Paris because she knows what her stock is worth.

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  4. LordHighFixer
    Devil

    Just look at the facts

    look at the company, what they do, how they do it, who they prey on, and what they have been accused of. If you want to try to make money off that, then you deserve what you get.

    However, that is not what the complaint is about. The complaint alleges something along the lines of insider trading. Like only showing the real books to a select few and using a set of cooked books for the IPO. I am pretty sure that if you get caught doing that you are in trouble.

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    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: Just look at the facts

      That depends.

      If you are cooking the books for 1000 $/Eu/£ - yes.

      If you are cooking the books to the tune of 30G -80G you become the prime minister of a Balkan Country and the rest of the world bails you out.

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  5. James Gosling
    Holmes

    It ain't worth sh*t!

    It's all hot air and bullshit! Zucker is going to be listed in the Oxford Dictionary as akin to "Sucker".

    0 0
  6. Graham Marsden
    Boffin

    "The technical glitches...

    "...that marred the first day of Facebook's stock trading have been blamed by many for the share's low prices,"

    ITYM "The fact that the value of FB was grossly over-rated was to blame for the share's low prices..."

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  7. Anonymous Coward
    Anonymous Coward

    i demand that zuckerburg retires to hell

    d

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  8. Anonymous Coward
    Anonymous Coward

    Not so different

    Funny really; the Republicans are trying to drum up votes in the presidential election with the pitch that the poorest 47% of Americans have an overly developed sense of entitlement. The wheedling, grasping nature of these lawsuits suggest the other half of the US thinks it's fully entitled to a quick, risk free quick buck or it's going to throw it's toys out of the pram. Just like Railtrack's shareholders, it's not a very attractive advert for capitalism.

    Not so different after all.

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    1. Alan Brown Silver badge
      Reply Icon

      Re: Not so different

      More to the point anyone who had any inkling of how Facebook's marker model worked would have stood well clear.

      I don't even pretend to be a financial advisor but I was telling anyone who asked whether the IPO was worth buying into to stay well clear as I couldnt' see how they were going to sustain their advertising model. What made the point was "If it's so good, why does it need to be hyped so much?"

      1 0
  9. Anonymous Coward
    Anonymous Coward

    It's all just a POS

    Get over it.

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  10. Anonymous Coward
    Anonymous Coward

    Why not

    Just void all the share issues and give everyone their money back at the price they paid

    all sorted apart from a couple of banks losing money, but that's nothing new and the good old Tax-Payer will bail them out again anyway

    1 0
    1. Anonymous Coward
      Reply Icon
      Anonymous Coward

      Re: Why not

      Do I have to give back the millions I made shorting the stock?

      That's a sucky idea.

      0 0
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