Defense Strategy Of Facebook, Underwriters: Consolidate Lawsuits, Blame Nasdaq

Facebook will reportedly file a motion, as early as Friday, to consolidate all of the lawsuits against the company related to its troubled initial public offering, and the motion is expected to include lead underwriters Morgan Stanley, Goldman Sachs, and J.P. Morgan.

Facebook will reportedly file a motion, as early as Friday, to consolidate all of the lawsuits against the company related to its troubled initial public offering, and the motion is expected to include lead underwriters Morgan Stanley, Goldman Sachs, and J.P. Morgan.

The New York TimesDealBook reported that Nasdaq will be a major part of the filing, with Facebook and the underwriters pointing to the technical issues experienced by the exchange on the day the IPO launched.

According

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Spring Special

Save 30% Off an ADWEEK Subscription Today!

View Your Options

Already a member? Sign in