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Another underwriters (MS, JPM, GS), Facebook's CEO and board, and NASDAQ also faced litigation right after quite a few lawsuits ended up submitted, even though SEC and FINRA both equally more info released investigations.[seventy four] It had been thought that changes to earnings estimates ended up communicated into the underwriters by a Facebook economical officer, who made use of the knowledge to hard cash out on their own positions when leaving most of the people with overpriced shares.
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