Economy | News-Opinion
SEC, FINRA to review Facebook issues, Nasdaq sued
Suzanne Barlyn and Ryan Vlastelica, Reuters - Two top U.S. financial regulators said the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its embattled lead underwriter and the Nasdaq.
After Friday’s nearly flat close and Monday’s 11 percent plunge, Facebook shares closed 8.9 percent lower at $31 on volume of 101 million shares. At that price the company has shed more than $19 billion in market capitalization from its $38-per-share offering price last week.
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