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First Suit Filed re: Facebook’s Stock Plunge

First Suit Over Facebook's Stock Plunge Is Filed in Manhattan Federal Court The first shareholder suit was filed Friday against Facebook in the Southern District of New York over the erasure of $100 billion in value just one day after the social media giant's stock plunged. The 24-page complaint was filed by Pierce Bainbridge Beck Price & Hecht […]

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Stocks In For Rough Thursday

Tech Reckoning: Tech stocks had never been higher. Then Facebook reported earnings. Thursday's going to be ugly. Facebook's (FB) stock tumbled as much as 24% in after-hours trading Wednesday, after its chief financial officer warned that its sales growth would slow. Concerned that the problems facing Facebook aren't unique, investors sold off the whole tech sector Wednesday evening. […]

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90-Minute Facebook Call: 150B Wiped Out

What happened on Facebook's nightmare conference call that wiped out nearly $150B in market value in 90 minutes? Facebook's stock dropped by a whopping 24% after it announced its second-quarter financial results on Wednesday.   The plunge came after Facebook executives said the company expected a significant slowdown in its revenue growth in the years […]