Originally posted by brooks85
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who has one?Comment -
Wow, it keeps getting worse. Broker just texted me. Zuckerberg being sued now, and even crazier, a ton of people still don't have trade confirmations yet from MS.Comment -
Even Zuckerberg and Thiel Have Sold Their Shares!
Even Zuckerberg and Theil Have Sold Their Shares!
HAHA! This stock is for fukkin fools.
Facebook Inc. FB +3.01% Chief Executive Mark Zuckerberg has sold 30.2 million shares and director Peter Thiel has sold 16.8 million shares of the social-networking company, according to securities filings published late Tuesday. The sales confirm plans detailed in a prospectus before Friday's $16 billion IPO. Zuckerberg sold 30.2 million shares at a price of $37.58 for gross proceeds of $1.13 billion; Thiel sold 16.8 million shares for gross proceeds of $633 million. Facebook insiders had told prospective shareholders of their plans in an S-1 filing last week. Facebook FB +3.01% shares were down 0.8% after hours at $30.74.
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That doesn't bother me so much. It all goes back to IPO 101: IPO's are primarily an opportunity for the owners to get rich, not the public.
The founders of the company have busted their ass making their company what it is and this is their opportunity to reap their reward. Ain't nuthin wrong with that.Comment -
looks like it has found a bottom here at 31 and change.Comment -
There is if the owners of the company either know or strongly suspect that the stock is going to plunge and are selling their stocks right away to make a profit and get out asap.Originally posted by elgrecoComment -
Originally posted by PhillyFlyers
"The sales confirm plans detailed in a prospectus before Friday's $16 billion IPO."
This isn't really a story. It was understood Zuck was going to sell some of his shares before it even went public.Comment -
I hear what your saying. I think its all BS. I don't feel the public has any right to complain. There are no smoke and mirrors here. Everything was transparent. No one was withholding information. I don't need anyone to tell me that a stock being issued at a gazillion times earnings is risky and probably going to drop.
Now, if there was insider information that was being withheld, we have a problem. "This stock sucks", is not insider info.Comment -
Originally posted by elgreco
Apparently not everything was transparent.Comment -
there were obvious shenanigans like there always are, they'll be sued by eveyrone and more than likely not have any problems. Simply because they observe the letter of the laws, but definitely not the spirit, unfortunately they dont judge on the latter.
They need to reword the laws or give judges more discretion as this is pretty common place these days, but since this IPO was huge and a very public spotlight it gets highlighted when they do it.Comment -
Originally posted by greenhippo
The "revisions were material information which was not shared with all Facebook investors, but rather, was selectively disclosed by defendants to certain preferred investors and omitted from the registration statement and/or prospectus," the plaintiffs claim.
That is a problem.Comment -
In this economy, you better show that you're making real money. The investment bankers overhyped the FB ipo. Then they all added it to YOUR mutual funds. This is how it works.
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Facebook Lawsuit Alleges Unfair IPO Disclosures
Facebook Lawsuit Alleges Unfair IPO Disclosures
The lawsuit in U.S. District Court in Manhattan claims forecasts were available to “certain preferred investors” but not others, according to Reuters, which said Morgan Stanley and Facebook did not immediately respond to requests for comment.
Facebook Lawsuits: Did All Shareholders Get Same Data In IPO?
On May 9, the third day of Facebook's pre-IPO roadshow to meet with prospective investors, the company filed an amended IPO document that said its number of mobile users was growing faster than its revenue.
According to a person familiar with the matter, Facebook then had another meeting with analysts and told them that based on the new information in the filings, the analysts' forecasts should be at the low end of the range that the company gave them in April. The person spoke on the condition of anonymity because they were not publicly authorized to discuss the matter.Comment -
I honestly see Facebook hitting the $18-$20 mark in the next month or so.Comment -
Totally corrupt.
Business as usual.Comment -
Facebook traded under $27 a share today.
Zuckerberg you fukkin thief, give the money back.
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I saw where he fell off the top Billionaires list today. Probably like most scammers he no longer has the money, least not where anyone can find it, to give back.Comment -
do you guys know how IPOs work? Zuckerberg and all his friends made their money for life. It's all for fun now.Comment -
If Warren buffet said don't **** with FB...then why didn't no one listen to him.....,zuker laughing his azz offComment
