While the news from Wall Street earlier this week may not have been good for Facebook, other parts of downtown Manhattan were kind to the social network Wednesday, as U.S. District Judge Robert Sweet dismissed four shareholder lawsuits against the company related to its troubled May 18 initial public offering.
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U.S. District Judge Robert Sweet in Manhattan named the lead plaintiffs Thursday in securities lawsuits against Facebook and against Nasdaq parent Nasdaq OMX Group related to the social network’s bungled May 18 initial public offering.
All of the lawsuits over Facebook’s bungled initial public offering are going to make a brand-new start of it in old New York, as a panel of federal judges ruled Thursday that cased filed throughout the country are to be transferred to U.S. District Judge Robert Sweet in Manhattan, according to reports.
