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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. November 25, 2015

    Nasdaq Can't Shake Immunity Decision In Facebook IPO Suit

    A New York federal judge on Tuesday declined to vacate a ruling that Nasdaq's immunity as a self-regulatory organization didn't protect it from claims related to its botched handling of Facebook's initial public offering, finding the decision should stand despite a recent settlement.

  2. October 07, 2015

    Facebook Says Many Investors Knew Of Problems Before IPO

    Facebook and some underwriters involved in the company's flubbed $16 billion initial public offering urged a New York federal court in documents unsealed Wednesday not to certify proposed investor classes in multidistrict litigation over its decreased valuation, saying thousands of proposed members learned of valuation issues before the IPO.

  3. September 14, 2015

    Facebook Says Nasdaq IPO Deal Must Block Repeat Damages

    Facebook Inc. and related parties told a New York federal court Friday that a controversial provision in Nasdaq's proposed settlement over the social media giant's botched $16 billion initial public offering must be preserved to stop investors from pursuing improper "double recovery" in related litigation.

  4. September 08, 2015

    Facebook Parties Permitted To Intervene At Settlement Hearing

    A New York federal judge on Tuesday granted Facebook Inc. underwriters and executives permission to intervene as the court weighs Nasdaq's proposed settlement over Facebook Inc.'s botched $16 billion initial public offering, with U.S. District Judge Robert Sweet saying their motions to intervene were unopposed.

  5. August 24, 2015

    Facebook IPO Underwriters Want A Say In Nasdaq Settlement

    Underwriters for Facebook Inc.'s botched $16 billion initial public offering on Friday asked for permission to intervene as a New York federal judge weighs Nasdaq's proposed settlement over the same IPO, arguing that they have a stake in the potential $31 million deal's controversial judgment-reduction provision.

  6. August 20, 2015

    IPO Investors Decry Facebook 'Windfall' In Nasdaq Deal

    Investors suing Facebook Inc. over its botched $16 billion initial public offering told a New York federal judge Wednesday that Nasdaq's proposed settlement over the same IPO must be modified to avoid granting Facebook a possible $26.5 million "windfall" in unfairly reduced damages. 

  7. August 17, 2015

    CORRECTED: Facebook Execs Seek To Intervene In Nasdaq IPO Settlement

    Facebook Inc. executives Mark Zuckerberg and Sheryl Sandberg, Netflix Inc. CEO Reed Hastings and venture capitalists Peter Thiel and Marc Andreessen asked a New York federal judge Friday for permission to intervene in a proposed class action over Facebook's botched IPO.

  8. August 13, 2015

    Facebook IPO Buyers On Board With Nasdaq Deal, Judge Told

    The lead plaintiffs in a proposed class action over Facebook's botched IPO asked a New York federal judge on Wednesday for final approval of a $31 million settlement with Nasdaq and related defendants, saying potential class members have reacted positively to the deal.

  9. July 09, 2015

    Plaintiffs Try To Get Facebook's Expert Nixed In IPO Suit

    Plaintiffs fighting for class certification in a suit over Facebook's IPO on Thursday asked a New York federal judge to nix testimony from a professor they claim is not a court-qualified expert, saying his argument contradicted Second Circuit precedents.

  10. June 25, 2015

    Nasdaq's Facebook IPO Settlement Gets Tentative Green Light

    A New York federal judge has preliminarily approved Nasdaq's $31 million settlement in a securities class action over Facebook Inc.'s botched $16 billion initial public offering, a settlement that Facebook has announced it will object to.