In other words, during the marketing of the Facebook IPO, investors who did not hear about these underwriter estimate cuts were placed at a meaningful and unfair information disadvantage. They did not know what a lot of other investors knew, and they suffered for it.
My Gawd, man, this is the era of the Obamadork Admoinistration.
They don’t need no stinkin’ laws.
And...anyone who even imagined that Facebook was worth any more than the shiny-plated plastic awfulness that adorned the plastic grill of a Cadillac deserves what they get.
Facebook is as vapid as its creator.
Trigtruther Blodget knows all about fraud:
Fraud allegation and settlement
In 2002, then New York State Attorney General Eliot Spitzer, published Merrill Lynch e-mails in which Blodget gave assessments about stocks which conflicted with what was publicly published.[4] In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission.[5] He agreed to a permanent ban from the securities industry and paid a $2 million fine plus a $2 million disgorgement.[6]
http://en.wikipedia.org/wiki/Henry_Blodget
Why people post his crap is beyond me.
Sneaky, unethical MONEY CHANGERS
Pelosi and her cohorts (congress) got the word. Now when it comes out that they took the high road and didn’t buy FB stock, we’ll know the real reason why.
Will Google take over Facebook?.
The “analysts” who make these guesses as to future earnings are not allowed to receive secret material information from Facebook.
IF Facebook told these analysts secret material info that Facebook did not tell the rest of the market, then yes, we would have a big scandal.
The real scandal is the herd mentality when all these pension funds, insurance companies and so forth don’t do any of their own homework when it comes to investing their money.
If you sat down your teenage son or daughter who is on Facebook all day and forced them to read the IPO prospectus, they would come up with a better guess as to Facebook’s future than these cubicle jockeys at the banks.
Since this is a duplicate post, I can only surmise that you did not do much seeking.