Facebook stocks continue to fall(WDAY TV) -- Many folks not feeling so "friend"-ly toward Facebook this morning.
(WDAY TV) -- Many folks not feeling so "friend"-ly toward Facebook this morning.
There is deepening controversy over Facebook's stock and how it went on sale. As the stock plunges, there are new questions about whether Insiders had more information than the public.
Regulators want to know if big banks gave big investors special treatment. One issue may be three banks determined before the stock went public, the company's earnings were likely to be lower than expected.
They reportedly only shared that information with insiders, not with the public.
Adding to the mess, an investor has sued NASDAQ over its handling of Facebook shares. NASDAQ admits mistakes which lead to trading disruptions during last Friday's IPO.
After losing eleven percent Monday, Facebook's stock fell another 8 point 9 percent Tuesday.