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Shareholder files new IPO-related lawsuit against Facebook

March 5, 2013 at 10:21 AM   |   Comments

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March 5 (UPI) -- At this point, another lawsuit against Facebook's Mark Zuckerberg feels like a deja-vu, but a new real-life lawsuit has been filed against the social media giant by yet another shareholder.

This time it was Gary Jones who filed the suit, claiming the directors of Facebook Inc. withheld key information regarding "weakening revenue trends as they related to the growing mobile device usage," the Examiner reported.

Jones' lawsuit seeks to force the defendants to reveal the money they made though the IPO.

Mark Zuckerberg, along with other directors and the IPO underwriter are mentioned in the suit that is officially named Gaye Jones v Mark Zuckerberg et al, Delaware Court of Chancery, No. 8375.

The Examiner points out that this isn't the first IPO related lawsuit Facebook has faced since going public in May 2012. Various other similar lawsuits have been dismissed.

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