Investors' $10M Facebook Appeal Won't Get Rehearing

Law360, New York (June 7, 2013, 4:17 PM EDT) -- A New York state appeals court on Thursday refused to revisit a $9.5 million investor suit against SecondMarket Holdings Inc. over a failed attempt to purchase then-private Facebook Inc. shares, rejecting an investment fund's bid to reargue the case after it was tossed earlier this year.

Facie Libre Associates I LLC, which is affiliated with venture capital broker-dealer Felix Investments LLC, won't get to reargue its suit alleging SecondMarket botched its efforts to purchase 75,000 shares in Facebook before the company went public, according to the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.