SHAREHOLDERS SUE FACEBOOK, OTHERS OVER IPO SALES

Shareholders who recently bought the much hyped facebook IPO has sued the social media company as well as Morgan Stanley (MS), Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. They were sued along with other underwriters by investors who claimed they were misled in the purchase of the social facebook stock. Read more

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MARK ZUCKERBERG BECOMES THE 29TH RICHEST PERSON ON EARTH

Facebook Inc. (FB)’s $16 billion initial public offering has made 28-year-old ?Mark Zuckerberg? the 29th richest person on Earth.

Facebook, the world’s most popular social networking company, sold 421.2 million shares for $38 each. At that price, the 503.6 million shares and options Zuckerberg owns are valued at $19.1 billion, making him wealthier than Google Inc. Read more

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