SEC News
- SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
- SEC Names Lona Nallengara as Chief of Staff May 15, 2013FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | Facebook stock loss
As of today, Facebook (FB) shares have fallen roughly 18.4 percent from their $38 IPO price, within the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion.
It was announced that Facebook, Inc., Facebook Chief Executive Officer Mark Zuckerberg, and the banks, including Morgan Stanley, are being sued by shareholders, claiming the defendants hid Facebook’s weakened growth forecasts ahead of its $16 billion initial public offering.
One lawsuit, was filed in U.S. District Court in Manhattan today, Wednesday, May 23, 2012, and another yesterday,Tuesday, May 22, 2012, in a California state court.
The New York complaint stated, “The value of Facebook common stock has declined substantially and plaintiffs and the class have sustained damages as a result.”
Shareholders in the New York case said research analysts at several underwriters had lowered their business forecasts for Facebook during the IPO process. They said that these changes were “selectively disclosed by defendants to certain preferred investors” rather than to the general public.
The defendants were accused of allegedly concealing from investors during the IPO marketing process “a severe and pronounced reduction” in revenue growth forecasts, resulting from increased use of its app or website through mobile devices.
“The value of Facebook common stock has declined substantially and plaintiffs and the class have sustained damages as a result,” the complaint said.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. If you or a family member have sustained investment losses due to your stock broker or financial advisor’s recommendations in Facebook (FB) stock, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
Facebook IPO losses · Facebook stock loss · Facebook stock loss lawyer · FB stock loss · Financial Industry Regulatory Authority · FINRA · FINRA arbitration · finra lawyer · fort lauderdale securities fraud lawyer · Lars K. Soreide · Mark Zuckerberg sued on FB losses · Morgan Stanley · Morgan Stanley sued for pre-ipo FB · Morgan Stanley sued in Facebook IPO · overconcentration of Facebook stock by brokers · pre-IPO FB stock loss · pre-IPO scams · securities lawyer · Soreide Law Group PLLC · stock loss
Soreide Law Group is currently investigating claims against brokers who have over concentrated their clients into Facebook stock.
Amazingly, Facebook’s p/e (Price to Earnings) ratio is 105 to 1. Consider for a moment that a fairly valued stock is normally around 15 to 1. Apple, for example, is 13 to 1, Microsoft is 11 to 1, Hewlett-Packard 7.7 to 1.
Some big investors are selling off earlier than expected, uncomfortable about the Facebook bubble about to burst.
Facebook is unconventional. It makes its money from advertising, not users. The users don’t have to buy anything to use the product. They can just basically ‘hang out’ on Facebook all day, and not pay a thing. Allegedly, advertisers are getting disillusioned. GM recently discontinued much of its Facebook advertising allegedly because of its lack of effectiveness.
The day Facebook went public they were sued by users for $15 billion allegedly for invasion of privacy for tracking their online usage, even after they logged off of Facebook. How will this affect the company?
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. If you or a family member have sustained investment losses due to your stock broker or financial advisor’s recommendations in Facebook stock, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
brokers recommending risky investments · Facebook · Facebook bubble to burst · Facebook losing value · Facebook losses · Facebook stock dropping · Facebook stock loss · Facebook stock loss lawyer · failure to supervise brokers · Financial Industry Regulatory Authority · FINRA · FINRA arbitration · finra lawyer · Ft. Lauderdale Securities Lawyer · high risk investments · Lars K. Soreide Soreide Law Group · overconcentration of Facebook stock by brokers · securities lawyer · supervisory failures
