As the public joined the frenzy around Facebook Inc.'s Wall Street debut, well-connected institutional investors were hearing a more sobering message: The social network's main business, advertising, was sputtering.
The following editorial appeared in the Los Angeles Times on Thursday, May 24:
SAN JOSE, Calif. - Facebook Inc. could be on the hook for $1 billion or more in damages if plaintiffs' lawyers can prove allegations that the company and its bankers misled investors in its initial public offering.
SAN JOSE, Calif. - Less than two months after agreeing to pay about $1 billion for photo-sharing application Instagram, Facebook Inc. introduced a similar app Thursday.
SAN JOSE, Calif. - Less than two months after agreeing to pay about $1 billion for photo-sharing application Instagram, Facebook Inc. introduced a similar app Thursday.
Already grappling with regulatory reviews of its troubled initial public offering, Facebook Inc. and the Wall Street banks that shepherded the deal are now under fire from lawmakers and lawyers.
Congress is getting involved and investors have become angry, but despite another rough day for Facebook at least its stock price finally closed with a daily gain.
Two congressional committees are looking into the troubled initial public offering of Facebook Inc., aides said Wednesday.
Facebook Inc. is set to open an office in Dubai next week, its first location in the Middle East.
"Karma" by Carly Phillips; Berkley (2012), 384 pages, $7.99 (paperback)
-"The Man Who Changed the Way We Eat," by Thomas McNamee; Free Press (339 pages, $27)
-"Bring Up the Bodies," by Hilary Mantel; John Macrae/Henry Holt (432 pages, $28).
What will become of Mexico? How can a country so powerful, so concerted, so modern, be so impotent, so chaotic, so backward? And how can Mexico, and all Latin America, take ownership of their futures?
-"The Lower River," by Paul Theroux; Houghton Mifflin Harcourt (336 pages, $25)
This month I'm wondering if crime fiction is the only genre where writers die and their characters keep solving murders without them. Last summer Jeffery Deaver continued Bond's covert activities in "Carte Blanche," Anthony Horowitz kept the game afoot with Holmes and Watson in "The House of Silk," and now Ace Atkins has taken up Spenser's sword in Robert Parker's "Lullaby" (Putnam, $26.95) released at the same time as Atkins' own "The Lost Ones" (Putnam, $25.95).
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