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In re: Facebook, Inc., IPO Securities and Derivative Litigation

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Case overview

Case Number:

1:12-md-02389

Court:

New York Southern

Nature of Suit:

P.I.: Other

Multi Party Litigation:

Class Action, Derivative Litigation, Multi-district Litigation

Judge:

Colleen McMahon

Firms

Companies

Government Agencies

Sectors & Industries:

  1. August 02, 2018

    Attys In $35M Facebook Deal Seek $14M In Fees, Costs

    Attorneys asked a New York federal court for almost $14 million in fees and costs Wednesday for negotiating a $35 million settlement with Facebook Inc. to resolve a consolidated securities class action alleging the social media company misrepresented revenue projections ahead of its 2012 initial public offering.

  2. February 26, 2018

    Facebook's $35M Deal To End IPO Suit Gets Initial OK

    A New York federal judge on Monday preliminarily approved Facebook Inc.'s $35 million deal to resolve a certified securities class action alleging the tech giant hid key financial forecast information from investors leading up to its initial public offering in May 2012, causing its stock to languish in its first year.

  3. July 18, 2017

    Nasdaq Fights Bid To Move Unsettled Facebook IPO Cases

    Nasdaq Inc. on Tuesday asked a New York federal judge not to send two cases brought by early buyers of Facebook Inc.'s public stock back to the Texas court they came from, saying that discovery has barely begun and it would be inefficient to send the cases back so soon.

  4. July 11, 2016

    Facebook's Discovery Bid Put On Hold In IPO Suit

    A New York federal judge told Facebook in a ruling released last week it will have to wait to depose individual investors in a $16 billion class action filed over its flubbed initial public offering.

  5. June 23, 2016

    Facebook IPO Investors' Counsel Asks For Retail Buyer Info

    The big-dollar class action over Facebook's $16 billion initial public offering found itself at a curious juncture Thursday as plaintiffs' counsel asked a Manhattan federal judge for access to information about retail investors being contacted by a class administrator, but IPO underwriters countered that counsel is not entitled to it.

  6. May 24, 2016

    Facebook Objects To Class Notice Forms In IPO Row

    Facebook Inc. told a New York federal judge Monday that the class notice forms proposed by investors suing the social media giant over its $16 billion initial public offering are inadequate because they don’t clearly spell out the criteria for class and subclass membership.

  7. May 10, 2016

    Facebook Says Lack Of Investor Docs Imperils IPO Class Cert.

    Facebook Inc. told a New York federal judge Tuesday that the investors suing the social media giant over its $16 billion initial public offering have cobbled together an unmanageable class action that relies on subjective information from each of its members and is further weakened by the investors' inability to provide unnamed class members' documents.

  8. April 28, 2016

    Facebook Demands Investors Reply To Inquiries In IPO Suit

    Facebook Inc. urged a New York federal court Wednesday to compel investors suing the social media giant over alleged misstatements leading up to its $16 billion initial public offering to answer certain interrogatories, arguing the company is entitled to know the basis of the class action's claims.

  9. January 04, 2016

    Facebook Investors Granted Class Cert. In IPO Suit

    A New York federal judge has certified two classes in the shareholder suit against Facebook over its $16 billion initial public offering, finding that while some individual questions exist in the case, the investors clearly fall into two categories.

  10. December 10, 2015

    Facebook Takes Objection To Nasdaq's IPO Deal To 2nd Circ.

    Facebook and the underwriters of its $16 billion initial public offering said Wednesday that they are appealing a New York federal judge's decision to approve Nasdaq's $26.5 million settlement with IPO investors while limiting the settlement's power to offset future damages that Facebook and the underwriters might pay.

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