Trending on Twitter this morning:
Morgan Stanley and Facebook IPO. The investment bank, which has headquarters in Purchase, led other bankers to increase the offering price range of Facebook stock before Friday’s initial public offering. Facebook shares closed at $31 Tuesday, a fall of more than 18% from the offering price of $38.
Today Reuters is reporting that shareholders have filed suit against Morgan Stanley, Facebook and Facebook’s Chief Executive Mark Zuckerberg, claiming they hid key information from the public before the IPO.
#Facebook IPO blunder adds to Morgan Stanley woes: bit.ly/JpE47W $FB $MS
— Fortune Magazine (@FortuneMagazine) May 23, 2012
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