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Shareholders sue Facebook, NYSE comes calling | Reuters

(Reuters) – The fallout from Facebook Inc’s messy initial public offering widened on Wednesday as shareholders sued the social network and its bankers while a trading firm revealed a massive loss on the shares and threatened to seek “remedies.”

The Nasdaq stock exchange also came under further pressure as a source close to the situation told Reuters that NYSE Euronext had opened discussions with Facebook about a potential stock listing there. Nasdaq also faces litigation from angry investors.

Facebook’s listing, envisioned as a crowning moment for an eight-year-old company that has become a business and cultural phenomenon, has instead turned into a legal and public relations fiasco for the company and its lead underwriter, Morgan Stanley.

via Shareholders sue Facebook, NYSE comes calling | Reuters.

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