Form May-17th to Aug-17, FACEBOOK investors lost nearly heavily close to 50 Billon Dollars, than any other high value stocks. The IPO price raised from $ 34 dollars to $ 38 dollars in the first place, made a huge $104 billion dollar IPO with fan fare. The hype was not continued any longer, lost half the value now trading at $ 19.57.
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Zuckerberg admits Facebook stock plunge ‘painful’ to watch
AGENCIES Posted: Saturday, Aug 18, 2012 at 1138 hrs IST
Zuckerberg admits Facebook stock plunge ‘painful’ to watch:Facebook co-founder Mark Zuckerberg has reportedly admitted that the firm’s stock market tumble has been “painful” to watch, while addressing a meeting to boost the morale of his staff.
http://www.financialexpress.com/news/zuckerberg-admits-facebook-stock-plunge-painful-to-watch/989960/
San Francisco: In an order on Friday, U.S. District Judge Richard Seeborg in San Francisco listed several concerns with the proposed settlement, including a request for more information on why the agreement does not award any money to members.
He gathered the social networking site’s staff to discuss the issue ahead of the release of an extra 271 million shares this week, which cut Facebook shares to just 19.87 dollars, almost half their 38 dollar flotation price.
According to a news report, witnesses said that at the meeting, the 28-year-old chief executive was asked if Facebook employees were allowed to talk about the firm’s troubles on Wall Street.http://www.financialexpress.com/news/zuckerberg-admits-facebook-stock-plunge-painful-to-watch/989960/
Judge rejects Facebook settlement over ad feature
AGENCIES
Posted: Saturday, Aug 18, 2012 at 1038 hrs IST
San Francisco: In an order on Friday, U.S. District Judge Richard Seeborg in San Francisco listed several concerns with the proposed settlement, including a request for more information on why the agreement does not award any money to members.
Seeborg said the company and attorneys for the plaintiffs could try to modify their agreement to address his concerns.
"We continue to believe the settlement is fair, reasonable, and adequate," a Facebook spokesman said in a statement. "We appreciate the court's guidance and look forward to addressing the questions raised in the order."
Representatives for the plaintiffs could not immediately be reached for comment.
Five Facebook members filed a lawsuit seeking class-action status against the social networking site, saying its Sponsored Stories feature violated California law by publicizing users' "likes" of certain advertisers without paying them or giving them a way to opt out. The case involved 100 million potential class members.
As part of the proposed settlement, Facebook agreed to allow members more control over how their personal information is used. In the opinion of one economist hired by the plaintiffs, contained in a court filing, the value to Facebook members resulting from the changes is about $103 million.
Facebook had also agreed to pay $10 million for legal fees, and $10 million to charity, according to court documents.
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