Facebook IPO: Morgan Stanley and Other Underwriters Earn $100M Profit – WSJ
Morgan Stanley (NYSE:MS) and Goldman Sachs Group, Inc. (NYSE:GS) were the underwritters for the infamous Facebook Inc (NASDAQ:FB) IPO debacle. The lawsuit claims that investors were misled in the purchase of the IPO.
Morgan Stanley and Goldman set the offering price at $38 a share. The stock jumped at the open on Friday but soon started to fall. When the stock reached the $38 level . . .
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