Securities fraud class action against Facebook settled for $35 million

Posted on: March 9th, 2018 by Steve Larson

A settlement of a class action against Facebook was preliminarily approved on February 26, 2018. The deal was reached to a securities fraud suit that had been certified as a class action. The suit alleged the tech giant hid key financial forecast information from investors leading up to its initial public offering in May 2012, causing its stock to languish in its first year.

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