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Investors Sue Facebook Over IPO, Banks Investigated [Headlines]

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Goldman Sachs, Morgan Stanley, and JP Morgan reportedly shared reduced revenue forecasts with big investors, but not the general public, before the company went public on Friday.

Allie Walker

The three banks involved in the Facebook IPO, Goldman Sachs, Morgan Stanley, and JP Morgan, are under federal investigation for possibly releasing negative forecasts for Facebook to big investors, but not the general public, before the company went public on Friday. An investor is also suing Facebook and the Nasdaq Exchange for ‘negligence in handling trades that resulted in losses for traders.’ Guardian

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