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Following the collapse of the share, a shareholder sued the Facebook social network and his boss Mark Zuckerberg in federal court in Manhattan. The lawsuit that was released yesterday accuses Facebook and Zuckerberg of violating the capital market law. The shareholder seeks a clbad action and claims damages of an amount not mentioned.
The share of the Internet network dropped by about 19% on Thursday. This resulted in billions of dollars of capital destruction. The Facebook group, which recently made headlines because of data scandals, shocked investors with its annual report and outlook.
At least 16 brokerage houses lowered their price targets. They emphasized that, among other things, better privacy of users would result in costs. This could plunge Facebook's profit margins for more than two years.
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