Zuckerberg faces insider-trading lawsuit

June 05, 2012 11:47

Facebook investors have filed a class action lawsuit against the social network's co-founder Mark Zuckerberg, alleging that he had inside information that the company's stock was overvalued that led to his dumping of shares ahead of their post-IPO collapse.

The suit alleged that Zuckerberg hid from most investors the fact that the Facebook business model was not built to sustain enough advertising revenue to support an IPO price of 38 dollars a share.

« Back to LIVE

TOP STORIES

Has Govinda Forgiven Krushna Abhishek?

Govinda surprised everyone by attending his niece Arti Singh's wedding.

Indian-origin man killed while evading arrest in US

A 42-year-old Indian-origin man in the United States was shot and killed by police in San Antonio after he struck two officers with his vehicle as they were trying to arrest him in connection with an aggravated assault case against a woman.

Modi is scared, he may cry on stage: Rahul

The former Congress chief accused Modi of 'diverting public attention' through various means.

Swapnil reveals how RCB bowlers stopped the rampaging SRH batters

Following his side's win over Sunrisers Hyderabad, Royal Challengers Bengaluru (RCB) bowling all-rounder Swapnil Singh said that the ball was stopping and the team felt that their 207-run target was defendable.

India can speak...: US on Australian journalist's visa row

The row was erupted after Australian journalist Avani Dias claimed she was forced to leave India.