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Lawsuits pile up over Facebook IPO

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Completely without merit. That mobile devices were cutting into Facebook's revenue has been clear for some time now. There was plenty of time for due diligence.

The suit against NASDAQ is a different story. Still: what a train wreck. To those who saw it coming and stayed out of the way, congratulations.

3 ( +3 / -0 )

GREED! Pure and simple, no one forced any investor to purchase the stock at the stated price. It's like buying a new car, drive it off the lot even 10 meters and it looses it's value. I saw on CNBC last week where the analyst were saying that there were a bunch of investors who were looking to "flip" the stock the second day to make huge profits, for once the public did the right thing and burned those fools.

0 ( +0 / -0 )

Guess the folks on 'Main Street' are chuckling that for once the folks on 'Wall Street' got burned, doesn't happen often...

1 ( +1 / -0 )

It seems like EVERYBODY wanted to get rich off the IPO, but in reality, someone has to get burned.

1 ( +1 / -0 )

I was actually able to buy (and sell) FB stock on the IPO day, to my surprise. Even made a quick profit - in and out before anything bad happened...Wait, am I still talking about stock investing?

-1 ( +2 / -3 )

The stock market is always about gambling, but you have to assume certain things are going to be fair in the market. The FB IPO has all sorts of strange things going on prior to the actual IPO and that's what needs investigating. Initially the IPO price was right around where it is currently trading at, then the underwriters bumped-up the IPO price due to a "re-evaluation" of the company's potential worth.

Fair enough, but now we're hearing that these very same underwriters RE-re-evaluated the potential worth of FB back down, but only told large investors of this, AND KEPT THE IPO PRICE AT THE HIGHER VALUE. This is where the lawsuits are targeting and it seems to me they have a good chance of winning against the underwriters. I don't think the lawsuits will do as well against FB, though, because FB doesn't set the IPO price, the underwriters do.

2 ( +2 / -0 )

Any trading is zero sum, there is always some else on the other side of the trade either wining your losses or other wise. Its not gambling except for those who don't treat it like a business compared to those who work out the risk Vs reward and probability of winning. These are the reasons why novice traders always get burned or deceived by brokers into buying certain stocks. Dumb money losers will always try to blame another person, smart money losers accept it as part of the business and because they set their loss limits small, they live to trade another day and make lots of money over the long run. They are %5-%10 of traders.

0 ( +1 / -1 )

scoobydoo,

this whole fb ipo was total BS lie combined with trading system failure/screwup!

the underwriters & big investors MUST be investigated as this stinks to high hell! EVERYONE at the starting gate was looking to quickly flip for profit, HELLO that AINT INVESTING, & sadly stock markets are no more about flipping for quick profit & I will bet you a zillion$$$ there are TONS & TONS of inside info that the man/woman on the street NEVER EVER SEES!!!

Its all become highly rigged, I put a few$$ in over the years but I stopped about 5-7yrs ago the BS factors involved clearly made it a very bad "investment " for the little guys, vote with your $$$ folks avoid this casino & just save in yr bank account, this has all just gotten insanely stupid & this FB IPO is a sick sick joke! I hope the big boys PAY BIGTIME as they bloody well shud!

1 ( +1 / -0 )

I put a few$$ in over the years but I stopped

I'm glad you stopped because putting in a few $$ is a sure way to loose. The guys who make money do it as a profession and take money from the pockets of people who do not. Your right, its full of corruption etc but that's the game and you are competing against the best in the world with deep pockets. If you cant play with the big boys, best to stay out. This is not criticism, just advice.

1 ( +1 / -0 )

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