If the tumbling Facebook share price wasn’t enough to contend with. The misery for facebook has been compounded by the fact that they and the banks handling the flotation are being sued by shareholders.
They are citing the fact that revised growth figures were only made available to certain shareholders and that the growth figures had been revised downwards during the flotation.
Check out this article from the BBC covering this issue:
So it looks like this whole IPO is lurching from one calamity to the next.
So where do you predict the price will be at the end of play tomorrow evening?
I’m predicting another slide.