Three men were arrested at their homes Tuesday and charged with bilking an investor, dangling special access to Facebook shares prior to the social network’s initial public offering as bait.
Soon, investors will be able to learn more about companies in the same space where they play Candy Crush Saga. The Securities and Exchange Commission declared Tuesday that companies can notify their investors of news through Facebook and Twitter.
Morgan Stanley, which served as one of the lead underwriters for Facebook’s much-hyped initial public offering, is coming under scrutiny by the state of Massachusetts. The state fined Morgan Stanley $5 million, claiming that the financial firm helped Facebook leak sensitive information to select companies, creating an unfair playing field for investors.
Facebook’s value has rebounded to the previous record high of $87.5 billion, based on the latest SharesPost auction.