Facebook's stock has taken a dive since it's initial public offering and investors are pissed! Some are so pissed that they've filed a lawsuit against the social network, CEO Mark Zuckerberg, and the stock's underwriters at Morgan Stanley.
Three investors are accusing the defendants of withholding negative information about the IPO, as one lawyer working for the plaintiffs explains:
"It appears as though material information was not disclosed. We believe that the offering was conducted unfairly and it harmed public stockholders."
Facebook stock started off at $38 a share last Friday, but has now dipped to $32 a share.
A spokesman from the company told CNN that "the lawsuit is without merit" and the accused will defend themselves "vigorously."
[Image via WENN.]
Tags: facebook, initial public offering, investors, ipo, lawsuit, mark zuckerberg, stock, the social network