Facebook IPO Suit Doesn't Belong In Quebec, Judge Says

Law360, Los Angeles (September 4, 2013, 9:52 PM EDT) -- The Quebec Superior Court on Wednesday tossed a putative class action brought by a woman who claimed she was defrauded by Facebook Inc. and the banks that backed it during its initial public offering in May 2012, saying the court had no jurisdiction over the matter.

Essine Eid Mouaikel had sued Facebook, its board and the banks who backed the IPO in Quebec Superior Court in an attempt to launch a class action on behalf of everyone in Quebec who purchased Facebook shares when they broke...
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