Home

Mark Zuckerberg Sued
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A new lawsuit recently filed in court claims that the founder of Facebook, Mark Zuckerberg, pulled a fast one on the company’s investors. The fast one pulled by Zuckerberg could amount to $1 billion. The lawsuit, which is a class action, was filed by Facebook shareholders. The lawsuit claims that Zuckerberg, the CEO, had inside information that the stock was overvalued. It also claims that Zuckerberg protected his finances by getting rid of a large amount of Facebook stock.

Already this is the second time in two weeks that shareholders have accused the CEO of withholding information about the company or its stocks. The lawsuit also claims that the CEO and his close business associates hid information about a foundational flaw in the business model of Facebook. That flaw was that there was not enough revenue from advertising to support a stock that was valued at $38 per share.

  
What
Where


In the lawsuit, Morgan Stanley, JPMorgan and Goldman Sachs issued the alarm prior to the IPO that the company was overvalued. The lawsuit claims that the information was only released to the largest investors of the stock. When the shares were sold at $38 apiece, Zuckerberg made $1.13 billion. If he sold the shares today, he would make only $800 million.



 

RELEVANT JOBS

Business/Civil Litigation Attorney

USA-CA-Los Angeles

Job Title: Business/Civil Litigation Attorney Location: Los Angeles, CA Job Type: Full-time ...

Apply now

Workers Compensation Associate Attorney

USA-CA-Tarzana

Lyfe Law is a mid-size law firm looking to hire a Workers\' Compensation Associate Attorney who will...

Apply now

Attorney Position – Join a Legacy of Advocacy and Opportunity

USA-NJ-Vineland

Attorney Position – Join a Legacy of Advocacy and Opportunity Are you ready to take your le...

Apply now

Outside Counsel Legal Clerk

USA-FL-Odessa

Job OverviewWe are seeking a detail-oriented and motivated Legal Clerk to support the Outside Counse...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Education Law Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with ...

Apply Now

Education Law Attorney

USA-CA-Carlsbad

Carlsbad office of a BCG Attorney Search Top Ranked Law Firm seeks an education law attorney with 4-...

Apply Now

Education Law and Public Entity Attorney

USA-CA-El Segundo

El Segundo office of a BCG Attorney Search Top Ranked Law Firm seeks an education law and public ent...

Apply Now

Most Popular

SEARCH IN ARCHIVE

To Top