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Logo for Facebook appears on screens at the Nasdaq MarketSite in Times Square. Photo:Richard Drew/AP

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.

Michael Riccardi

Michael Riccardi has been a reporter and editor at ALM publications for more than 20 years. A graduate of Villanova University's law school, he lives in Philadelphia. He can be reached at mriccardi@alm.com.

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