It has been a rocky road for Facebook after its initial public offering. The reports of several Facebook underwriters were released today, as analysts feel that the company will be fine long-term, but there are still some lingering doubts about turning mobile usage into money.
Facebook will reportedly file a motion, as early as Friday, to consolidate all of the lawsuits against the company related to its troubled initial public offering, and the motion is expected to include lead underwriters Morgan Stanley, Goldman Sachs, and J.P. Morgan.
One of the many court cases involving Facebook’s troubled initial public offering was dismissed Wednesday, as a U.S. District Court in Texas ruled that sufficient grounds were not presented to file a lawsuit.
A total of 38.5 percent of the 421,233,615 Facebook shares purchased by underwriters prior to its initial public offering went to Morgan Stanley, while E*Trade, which had been touted as the best source of stock in the social network for individual investors, received only 0.05 percent of the shares, according to an amendment to Facebook’s S-1 filing with the Securities and Exchange Commission, filed after the close of trading Friday.
Don’t you just love a good infographic? Earlier today, we spotted this interesting visual from The Wall Street Journal highlighting major stakeholders that have changed the number of shares they plan to sell when Facebook’s initial public offering launches tomorrow.
The much-ballyhooed Facebook initial public offering will open trading Friday morning at $38 per share, the top end of the range the social network filed with the Securities and Exchange Commission earlier this week, CNBC reported.
Deutsche Bank, Credit Suisse, and Citigroup will likely join the group of banks underwriting Facebook’s upcoming initial public offering.
It’s reportedly D-Day for a possible announcement of a initial public offering. No, the IPO itself was never planned for today.
There is no shortage of speculation and rumors about Facebook’s upcoming initial public offering, some of it plausible, some of it not so much.