Logo for Facebook appears on screens at the Nasdaq MarketSite in Times Square. Photo:Richard Drew/AP
The complaint comes after the social media giant lost nearly $100 billion in stock value in one day.
July 27, 2018 at 07:00 PM
1 minute read
Editor / Litigation
The original version of this story was published on New York Law Journal
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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