This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Lieff Cabraser Reminds Facebook, Inc. Investors Of Upcoming Deadline In Class Action Lawsuits

The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds investors of the July 23, 2012 deadline to move for appointment as lead plaintiff in the securities class action litigation against Facebook, Inc. (“Facebook” or the “Company”) (NASDAQ:FB), brought on behalf of purchasers of Facebook common stock pursuant and/or traceable to the Company’s initial public offering (“IPO”) on May 18, 2012.

If you purchased Facebook common stock pursuant and/or traceable to the Company’s May 18, 2012 IPO, you may move the Court for appointment as lead plaintiff no later than July 23, 2012. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the action will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Facebook shareholders who wish to learn more about the action and how to seek appointment as lead plaintiff should click here or contact Sharon Lee of Lieff Cabraser toll free at (800) 541-7358.

The litigation is brought against Facebook, certain of its officers and directors, and the underwriters of the IPO for violations of federal securities laws.

On May 22, 2012, reports surfaced that analysts at Morgan Stanley, JP Morgan, and Goldman Sachs, underwriters of Facebook’s IPO, had revised downward their financial forecasts for the Company during the IPO roadshow. The revised forecasts were reportedly only passed along to certain major investors who were then able to sell their Facebook shares for a profit while the stock price rose immediately following the IPO. On May 22, 2012, Facebook shares closed at $31.00, significantly lower than the IPO price of $38.00. The Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have announced plans to investigate issues relating to the Facebook IPO.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs