Facebook’s highly-anticipated initial public offering took a dark turn when a technical glitch at the stock exchange Nasdaq delayed the IPO by half an hour. Angry investors filed a lawsuit claiming that Nasdaq mishandled or delayed their purchase of Facebook stock. And on Thursday, we finally learned the names of the lucky law firms that get to try to sort out this mess.
For the cases against Facebook and its underwriters related to the IPO, Bernstein Litowitz Berger & Grossman LLP and Labaton Sucharow LLP will be co-lead counsel.
For actions brought by Nasdaq OMX shareholders, Entwistle & Cappucci LLP will take the helm. And for the negligence actions against Nasdaq, the winners are co-lead counsel Finkelstein Thompson LLP and Lovell Stewart Halebian Jacobson LLP.
Read more at the Wall Street Journal.
For more Facebook shenanigans on InsideCounsel, see below:
Judge OKs Facebook’s revised privacy settlement
Paul Ceglia arrested for alleged Facebook fraud
Technology: Neutrals and Facebook—the dangers of social media
Labor: An employee’s Facebook pictures rightly cost him his job
Facebook offers to pay users in “Sponsored Stories” settlement
