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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.