Another day, another display of the dysfunctions of American capitalism.
On Wednesday, some understandably disgruntled investors filed suit in federal court against Facebook and several of the big banks that promoted its stock sale. The lawsuit alleges that the social media giant and the banks â??selectively disclosedâ? to â??certain preferred investorsâ? the fact that Facebookâ??s financial prospects werenâ??t as bright as the public had been led to understand.
Read Full Article »