MARK ZUCKERBERG AGAIN SUED FOR IPO OVEREVALUATION
The news from the Silicon Valley is that Facebook’s disgruntled shareholders have filed a lawsuit against Mark Zuckerberg, claiming that the CEO of Facebook has complete information that the Facebook stock was massively overvalued and he created a lot wealth by quickly selling thousands of Facebook stock.
This is not the first time, Facebook shareholders have joined hands against the CEO of the billion dollar social media website, this happens within 2 weeks of first lawsuit filed against Zuckerberg.
The lawsuit claims Zuckerberg and his investors over evaluated the advertising revenue of the Facebook. It also claims Goldman Sachs, JPMorgan, and Morgan Stanley — all raised the red flag before the IPO that Facebook was overvalued, but that information was “selectively disclosed” to the largest investors.
So, it becomes a wait and watch game, till some moment happens in the Zuckerberg and Facebook case.