Facebook to file motion, discuss Nasdaq role in IPO: report

Updated on: 2012-06-15 || Source: reuters.com

(Reuters) - Facebook is set to file a motion to consolidate all the shareholder lawsuits against the social network site, and is expected to place some blame on the Nasdaq for its botched IPO when it files the motion, the New York Times reported Thursday.

The document, which could be filed in the District Court for the Southern District of New York as early as Friday, will provide some perspective on Nasdaq's role on listing day and the effect the exchange's action had on the stock's trading activity, the paper said, citing a person with knowledge of the matter.

The lead underwriters for the initial public offering, Morgan Stanley, Goldman Sachs and JPMorgan Chase, are also expected to join the motion, the paper reported.

Nasdaq has been widely criticized for poor communication during and after the Facebook IPO, the most highly anticipated market debut in recent memory, and for failing to apologize for the technical problems in the first hours of trading of Facebook shares.

Officials at Facebook and Nasdaq could not be reached for comment outside usual business hours.

(Reporting by Adithya Venkatesan in Bangalore; Editing by Chris Gallagher)


Blackphone 2 'privacy' Android handset revamped
Security firm Silent Circle has revamped its smartphone that helps people manage personal data.
Chinese smartphones mount massive web attack
More than 650,000 Chinese smartphones have been unwittingly enrolled in a massive attack that overwhelmed a web
Hilton investigates hack claims
The Hilton hotel group has said it is investigating claims its US shops and gift stores may be the source of
Twitter website 'blocked' in Turkey
Twitter users in Turkey report that the social media site has been blocked in the country.


Sign up to received our free newsletter!
E-mail ID:


Views: 7407 Times
Circle Hover Effects with CSS3 Transitions READ MORE
Views: 2691 Times
Google to push pirate sites down search results READ MORE
Views: 3061 Times
U.S. charges 24 people in massive hacking sting READ MORE
Views: 5586 Times
Top Ten Tips To Improve System Speed READ MORE
Views: 7782 Times
Download youtube video no software needed READ MORE

Home|IT News|Computer Tips|Video Tutorials|Download Softwares|Subjects|Contact Us
Copyright © 2019. Jumbo Education (Information Technology). All rights reserved.
Free counter and web stats

Large Visitor Globe