Facebook hit with fresh IPO-related lawsuit

A Facebook shareholder has sued the social networking company’s chief executive Mark Zuckerberg and others over its troubled IPO, potentially reviving legal claims that a different court dismissed in February.

The lawsuit by Gaye Jones alleges that the company’s directors and officers knew that Facebook did not disclose weaker revenue trends as more users accessed the website through mobile devices. The complaint alleges that information had been selectively shared with the company’s IPO underwriters and key investors.

via Business feed http://www.scmp.com/business/companies/article/1179112/facebook-hit-fresh-ipo-related-lawsuit