Facebook To File Its First Motion After Turning Public, Would Blame Nasdaq

Posted on Jun 15 2012 - 6:33am by Editorial Staff

K.O. fight, this is what the situation of world’s largest social networking giant going to be. Facebook with almost a month turned public and already feel a lot of heat during the team. NYT – citing “person with knowledge of the matter” – is reporting that the social giant going to file a motion to consolidate all the shareholder lawsuits against the company.

The motion includes lead underwriters Morgan Stanley, Goldman Sachs and JPMorgan Chase and would be the first the Facebook will publicly addressed the lawsuits as well as the performance of its IPO. There are also chances that social giant will put some blame on Nasdaq also, as on day one of trading, Nasdaq “technical glitches” turns the heat on.

The social giant last traded at $28.29 per share value, up by 1.02 (3.74%).

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.