Facebook, Bankers Want IPO Lawsuit Thrown Out

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Facebook, and the bankers involved in the company's IPO, are asking the courts to throw out the lawsuits against them. Are we taking bets on the outcome? ;)

Facebook is facing a host of lawsuits claiming that it misled investors about its financial health before it went public last year. Morgan Stanley and other underwriters are also targeted in many of the suits, blaming them for not warning investors on how the mobile market could hurt the company's financial condition. Last October, the lawsuits were consolidated so that they could be heard by a single federal judge in Manhattan.
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Otherwise known as the "Waaaaa, this company didn't quadruple in stock price in the first week like all the other internet companies that did back in the heyday of printing off stock like its toiletpaper" law
 
It's the responsibility of each investor to research their potential investments on their own!
 
Of course they want lawsuits thrown out; doesn't everybody who gets sued try to get it dismissed first? I never thought Facebook would be as successful as a public company but everybody was playing up this as the biggest tech IPO since Google. I guess this might determine if there was shady shit going on though in the time leading up to the offering.
 
Actually FB tripled in value on the first day, but only for the few special investors on "the list", everyone else got screwed because the "official" opening price was too high.
 
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