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Town Square

Morgan Stanley settles claim over Facebook IPO

Original post made on Dec 27, 2012

One of the lead underwriters of Facebook's initial public offering (IPO) will pay $5 million in fines to settle the first regulatory action brought against Facebook financial backers who allegedly withheld information from public investors.

This story contains 266 words.

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Posted by slap on the wrist
a resident of Atherton: other
on Dec 27, 2012 at 10:41 am

The fine is a slap on the wrist compared to the actual damages of the small time investors. One per centers win again.