Facebook IPO lawsuits to be heard in New York

Dozens of lawsuits against Facebook Inc , the NASDAQ exchange and various underwriters will be centralized before a federal judge in New York, who must sort through the legal aftermath of Facebook’s botched initial public offering.

A panel of federal judges on Thursday ordered that cases filed around the United States be transferred to US District Judge Robert Sweet in Manhattan. Facebook had requested the transfer, while some investors sought to keep their cases in California.

via Business feed http://www.scmp.com/business/companies/article/1054490/facebook-ipo-lawsuits-be-heard-new-york