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Author Topic: Facebook, Wall Street Banks Sued Over Pre-IPO Financial Forecasts  (Read 409 times)

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Offline scootrd

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Facebook, Wall Street Banks Sued Over Pre-IPO Financial Forecasts
« on: May 23, 2012, 08:18:07 AM »
And wall street wonder why John Q public thinks the game is rigged for a few insiders.  Wall street operates like a Vegas casino with no oversight or regulation.  But hey Morgan Stanley and a few big insiders made 100 million in profit (factual number not bloating). So what the hell. screw the public investor.

 In one of the lawsuits, filed shareholders charged that analysts at Facebook’s underwriters lowered their financial forecasts for big, favored clients, yet didn’t inform the investing public at large. (unequivocally illegal)
 
 Read more: http://business.time.com/2012/05/23/facebook-wall-street-banks-sued-over-pre-ipo-financial-forecasts/?xid=gonewsedit#ixzz1viXroLSx
 
 But hey lets keep pushing for even more deregulation and less transparency.
 
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Offline gypsyman

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Re: Facebook, Wall Street Banks Sued Over Pre-IPO Financial Forecasts
« Reply #1 on: May 25, 2012, 01:43:04 AM »
I know that this probably affects me in some way. But considering that I don't have enough money to invest on Wallstreet, not sure if I really care. gypsyman
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We keep trying peace, it usually doesn't work!!Remember(12/7/41)(9/11/01) gypsyman
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