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May 20, 2013

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What We Learned About Wall Street and Big Business From Facebook’s IPO

In the span of less than a week, Facebook’s much-maligned initial public offering has led to billions in losses, multiple investigations and even lawsuits. The mess created from all this chaos, however, has led to some lessons about how Wall Street and big businesses play the system for their own economic advantages.

Posted on May 24, 2012 READ MORE



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Schumer ‘Appalled’ by Conservative Reaction to Tax-Dodger Bill

Sen. Chuck Schumer is ripping conservatives for their response to legislation he co-sponsored that would punish those who renounce their citizenship to avoid paying taxes. The bill was introduced after Facebook co-founder Eduardo Saverin gave up his U.S. citizenship right before he was expected to earn billions from the company’s much anticipated IPO.

Posted on May 24, 2012 READ MORE



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Facebook Sued by Investors Over IPO

Facebook faced more bad news Wednesday in the wake of its botched initial public offering. Shareholders filed a lawsuit against the social networking company, lead underwriter Morgan Stanley and several other Wall Street banks, alleging that they misled them about Facebook’s revenue projections ahead of the IPO.

Posted on May 23, 2012 READ MORE



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Facebook’s Fumbled IPO Under Scrutiny

The fallout over Facebook’s botched IPO continued on Tuesday with a lawsuit filed against NASDAQ over mishandled orders and word that regulators may investigate Morgan Stanley, which helped set the price of the stock, and other underwriting banks.

Posted on May 22, 2012 READ MORE  |  1 COMMENT



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Mark Zuckerberg Just Lost $2 Billion

Mark Zuckerberg’s fortune dropped $2 billion Monday as shares of Facebook tumbled to $34.03, 11 percent below their initial public offering price of $38. The loss prompted analysts and buyers to wonder whether the company was overvalued at the $105 billion it gained on the day of its IPO.

Posted on May 21, 2012 READ MORE  |  5 COMMENTS



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Facebook IPO Expected to Raise $16 Billion

Investors raced to get a piece of the Facebook pie Thursday, as one of the most eagerly anticipated initial public offerings finally became available to a select few.

Posted on May 17, 2012 READ MORE  |  2 COMMENTS


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A Progressive Journal of News and Opinion. Editor, Robert Scheer. Publisher, Zuade Kaufman.
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