Posted on 05/23/2012 11:32:12 AM PDT by US Navy Vet
A Senate panel is reviewing Facebook's high-profile stock offering last week amid allegations that the bank handling the IPO may have provided select clients with a negative assessment of the company.
A Democratic aide to the Senate Banking Committee says the panel wants to learn more about the initial public offering. The committee seeks briefings with representatives of Facebook, regulatory agencies and others. The aide spoke on condition of anonymity because the committee's planned inquiry hasn't been publicly announced.
Regulators are examining whether Morgan Stanley, the lead underwriter for the IPO, selectively informed clients of an analyst's negative view of Facebook's prospects before the stock offering. A group of shareholders have sued Facebook and Morgan Stanley, alleging the IPO documents contained false statements and omitted important facts.
(Excerpt) Read more at foxnews.com ...
I use FB, but not interested in investing in it...something people like better may come along tomorrow. There is no “there” there.
And also he doesn't know yet which Rats were in on the deal.
No doubt Chuck Schumer is behind this. He hates NASDAQ. He’s in bed big time with the NYSE.
Facebook is Facedown.
You know how I know FB is a bad investment?
I heard today FB makes a good chunk of their money from advertisements.
I didn’t even realize FB had advertisements, and I’ve been using it for 2 years....that shows how effective they are...eventually businesses will catch on to the fact that advertising on FB isn’t a good use of their advertising dollar.
Mark was born a poor, black child?
When will they investigate the GM IPO?....closed yesterday at 21.50. 33% down since it;s IPO....and when are they paying the taxpayers back the billions they owe them/US?
“I’m a jerk. I once had wealth, power, and the love of a beautiful woman. Now I only have two things: my friends, and... uh... my thermos.” - Navin R. Johnson
I wonder how Facebook can get quick time in all the Senate backlog, what with the the grilling of the crook Jon Corzine and MF Global, oh wait a minute, he’s a RAT.
Nevermind.
“He hates oil cans! Stay away from the oil cans!” - Navin Johnson
If? Just look at the guy. He's ridiculous.
Anyway, is lawyers and money managers are going to be shifting his stock assets elsewhere as soon as legally permissable - if not sooner. FB might crash and burn, but he'll get at least a few billion out before it does. Percentages alone pretty much guaranteee that.
The price is about $31.90/per share. Bunch people got Zucked!
Facebook is about to become extremely uncool.
Great flick.
Goldman is probably pushing Schumer to do this.
Remember when Chuckie made the comment about Indymac which got the '08 crash going? Now he's doing the same for Morgan Stanley.
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