Facebook Asks For 2nd Circ. Review Of Investors' IPO Suit

Law360, New York (February 4, 2014, 2:49 PM EST) -- Attorneys for Facebook Inc. and the underwriters of its $16 billion initial public offering told a New York federal judge Tuesday that “serious legal questions” in an investor class action alleging they misled the public about Facebook's financial prospects before the IPO should be addressed by the Second Circuit.

At a hearing, the defendants asked U.S. District Judge Robert Sweet to send his Dec. 12 order denying their motion to dismiss the case to the Second Circuit for interlocutory review, arguing that while Judge Sweet had...
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