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 in New York, on behalf of a proposed class defined as people who bought stock in the social media company from Oct. 1, 2017, through July 26, 2018.
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