Facebook Is Sued After Losing 120 Billion In Market Value
The lawsuit was filed on Friday (27) by shareholder James Kacouris. He says that the social network giant Facebook has not anticipated the possibility of revenue growth at lower levels, further declines in profit margins and the number of active users in some markets. The action also involves personally CEO and founder of the social network giant Facebook, of course, Mark Zuckerberg, and chief financial officer, David Wehner. According to Kacouris, the market was “shocked” when receiving the company numbers on Wednesday (25)....