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As in the Feds are checking on Morgan Stanley for insider trading and this lawsuit was related to the price which dropped, but that Facebook and Morgan Stanley knew that it would.
These Wal street people will regulate themselves, so we should all probably just stop asking questions, and back away slowly. They've never screwed up before.....right?
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These Wal street people will regulate themselves, so we should all probably just stop asking questions, and back away slowly. They've never screwed up before.....right?
Hahahahaha....greed man......makes the addictions to things like coke/heroin/oxy look like kids play.
Here is all I know about greed,politics and regulation.
When Congress passes a bill in February of 2012!!! Outlawing members of Congress from partaking in Insider Trading....well....that's all I got...[speechless]
Whether it's Wall St or Capitol Hill, the greed and arrogance of these people knows no bounds.
Doesn't the lawsuit have to do with Morgan Stanley providing "insider" information to their "institutional investors" that wasn't publically released, thus their "institutional investors" didn't buy into the IPO? Something along the lines of FB giving their investments banks (Morgan Stanley is one) some sort of addendum which stated they would be losing money once the IPO was opened?
I have to confess I haven't been following the situation closely, but the version I heard was that Facebook, like so many internet bubble companies of the 90's, has hundreds of millions of users but very few actual ways to make money. From what I've read, they were not entirely up front regarding how much advertising revenue they currently generate and project to generate.
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Originally Posted by Drewski
I hadn't read it had anything to do with stock losses per say. I could be wrong though.
Well in order for there to be a lawsuit, there has to be damages. If Facebook lied through their teeth during the IPO and everyone bought as much as they could at $38, then the stock went up to $50, nobody would be suing (there would be some ethical considerations and a lot of people would certainly be in trouble, but there would be no civil lawsuit to recoup damages). As things currently stand, yes some people have lost money, but the stock hasn't exactly gone the way of Enron.
Like I said before, this is just another situation where where, if the plaintiffs win, 10 million people will receive $25 each and the lawyers will receive about a hundred million.
I have to confess I haven't been following the situation closely, but the version I heard was that Facebook, like so many internet bubble companies of the 90's, has hundreds of millions of users but very few actual ways to make money. From what I've read, they were not entirely up front regarding how much advertising revenue they currently generate and project to generate.
I had heard the same. Which is the reason for the 11th hour addedum they supplied to their bankers, who then turned around and told only their best clients that they were downgrading FB.
Quote:
Originally Posted by Wolfpack
Well in order for there to be a lawsuit, there has to be damages. If Facebook lied through their teeth during the IPO and everyone bought as much as they could at $38, then the stock went up to $50, nobody would be suing (there would be some ethical considerations and a lot of people would certainly be in trouble, but there would be no civil lawsuit to recoup damages). As things currently stand, yes some people have lost money, but the stock hasn't exactly gone the way of Enron.
Agreed, but my only point was the government said we are going to investigate insider trading.....and then there were the "damages". Can you sue cuz your gamble in the stock market blew up in your face? (honest question)
Quote:
Originally Posted by Wolfpack
Like I said before, this is just another situation where where, if the plaintiffs win, 10 million people will receive $25 each and the lawyers will receive about a hundred million.
Agreed, it will be like the iPod class action suit going on now. I cant even guess the number of people who bought one between 2006-2009.
Facebook is declining in the USA ... a huge financial market. it is growing in less developed countries. My unprofessional guess is that it will be worth the most at this sale. It will decline from there to it's true earnings level over the next 5 years. It's popular but it is not exclusive at this point and won't be anytime soon.
If they had listened to me they would have saved millions ...
Agreed, but my only point was the government said we are going to investigate insider trading.....and then there were the "damages". Can you sue cuz your gamble in the stock market blew up in your face? (honest question)
If you suffered damages because of fraudulent activity someone engaged in then sure, you can sue. Now it helps if the person/company you're suing actually has money. For example, it wouldn't do you much good to file a suit against Enron.
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Originally Posted by Drewski
Agreed, it will be like the iPod class action suit going on now. I cant even guess the number of people who bought one between 2006-2009.
Whoa I haven't heard about this! Do iPhones count? I'll have to do some research!!
Even the Facebook IPO fall has probably done some harm to Obama by contributing to the fear that our economy can't shine anywhere. It suggests malaise at best and more insider chicanery at worst, just what Obama was supposed to be the savior antidote for.
Facebook is declining in the USA ... a huge financial market. it is growing in less developed countries. My unprofessional guess is that it will be worth the most at this sale. It will decline from there to it's true earnings level over the next 5 years. It's popular but it is not exclusive at this point and won't be anytime soon.
Now if someone came to the PoFo for investment advice and read my post they saved big time coin.
Quote:
Facebook needs its spiritual leader and chief innovator in a hoodie. But it doesn’t need him as CEO, placating investors in a collared shirt. There are plenty of people who could manage the Facebook business. But there’s only one Mark, who needs to focus on product strategy, not investor relations. …
The challenge … is for Facebook to satisfy the Street as best it can under intense scrutiny, while continuing to innovate so that it extends its reputation as a game-changer … Some people can keep these two plates spinning, but that’s a rare combination.
It’s time for him to step aside as CEO, Abell argues, as Bill Gates so famously did, and as Google’s Larry Page did for a time as well. (Though not happily.)
7Likes
Re: Social Media and Facebooks IPO
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