MDL Panel Merges Facebook IPO Cases In New York

Law360, New York (October 4, 2012, 11:07 PM EDT) -- A federal judicial panel on Thursday centralized in New York federal court more than three dozen suits stemming from Facebook’s ill-fated initial public offering, a move that combines suits against stock exchange operator Nasdaq OMX Group Inc. with securities suits against Facebook.

The U.S. Judicial Panel on Multidistrict Litigation transferred cases to New York for consolidated pre-trial proceedings, saying that even though the suits against Nasdaq over technical errors that allegedly caused investor losses had certain differences from the securities suits claiming Facebook and underwriters including...
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