facebook
twitter
search
search

Shareholder files new IPO-related lawsuit against Facebook

March 5, 2013 at 10:21 AM
| License Photo

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.

Related UPI Stories
Top Stories
Why the fake braces trend may be dangerous for users
Jared Leto 'stopped eating' for his 'Dallas Buyer's Club' role
Kelly LeBrock arrested for DUI
Gisele Bundchen, Tom Brady drop $14M on Manhattan home
Brandi Brandt faces drug charges in Australia