A federal judge has certified two shareholder class actions accusing Facebook Inc of hiding concerns about its growth forecasts prior to the social media company’s May 2012 initial public offering.
U.S. District Judge Robert Sweet in Manhattan said retail and institutional investors who claimed to lose money from buying Facebook shares at inflated prices in connection with the $16 billion IPO may pursue their respective claims as groups.
via Facebook must face shareholder class actions over IPO | Reuters
