Facebook listing on Nasdaq
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Facebook to be sued by shareholders

The social networking site, Facebook, and several banks leading its flotation are to be sued by disgruntled shareholders.

A writ, filed in a Manhattan court, alleges that Facebook's revised growth figures were not disclosed to all investors.

US financial regulators have already said the Morgan Stanley may have questions to answer over the disclosure of information ahead of the floatation.

Rory Cellan-Jones reports.

  • 23 May 2012