Mark Zuckerberg sued because he knew in advance that Facebook was overvalued
A major lawsuit is the one that scored today against Mark Zuckerberg, Facebook CEO, who has been accused of using inside information to sell for USD $ 1,000 million in shares in his company when the price was still close to the initial public offering of USD $ 38 per share , a figure that in the course of the day came crashing down .
According to the group of small investors who filed the lawsuit, the founder of the social network knew that after leaving the stock market to his company was overvalued, so you would have advised a number of “privileged investors” about the situation to not lose money during the fall, it was inevitable.
Zuckerberg would have been the first recipient, who also is accused of hiding information to know that the business model of the portal was not enough to keep the action at $ 38 as originally proposed, why it sold the USD $ 1,000 million just quickly Facebook went public.
What will the future of the company in the stock market? Surely the action will stagnate at some price below the initial public offering, resulting in loss of large investments among those who bought shares when their value was close to this figure, what motivates this kind of lawsuits.
– Zuckerberg sued for insider trading (Neowin)
– Sold to Mark Zuckerberg SUED Billion $ $ $ Before Disaster FB (TMZ)