Judge Trims Claims From $9.5M Facebook Share Sale Suit

Law360, New York (August 13, 2012, 2:02 PM EDT) -- A New York state judge on Friday gutted a $9.5 million lawsuit accusing an online marketplace that matches private equity and other investors with people selling private companies' stock of bungling a sale of then-private Facebook Inc. shares, saying the plaintiffs weren't parties to many of the sale contracts.

A pair of investment funds known as Facie Libre — Latin for "Face Book" — and affiliated with venture capital broker-dealer Felix Investments LLC alleged that SecondMarket Holdings Inc. dropped the ball when the investors tried to...
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