A class-action lawsuit has been launched in Canada claiming that Facebook misled most of its investors ahead of its initial public offering last month.
The suit, led by Regina-based lawyer Tony Merchant, alleges the social media company worked together with its banks to distribute incomplete and inaccurate financial information to all but a few preferred investors.
A claim has been filed with the court in Saskatchewan, while one will be filed in Ontario on Monday and British Columbia later next week.
‘Enforcement 40’ for 2020
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