CEO Mark Zuckerberg sues after the stock collapse

Zuckerberg and Facebook are being sued in what could be the first of many lawsuits The lawsuit filed by the shareholder James Kacouris in the Manhattan federal court accuses Facebook, Zuckerberg and the financial director David Wehner of having makes misleading statements about the failure or failure of the company. disclose the slowdown in revenue growth, lower operating margins and the decline in active users.

Kacouris said the market was "shocked" when "the truth" began to emerge Wednesday from Menlo Park, California. He said the 19 percent plunge in Facebook's stock the next day came from federal securities law violations by the defendants.

The prosecution seeks to clbadify shares

A Facebook spokesperson declined to comment

Shareholders often sue companies in the United States after unexpected stock price declines, especially if loss of wealth is important. his treatment of user data in a scandal also concerning the British company Cambridge Analytica. Many were consolidated in the federal court in San Francisco.

Thursday's crash also hit the bottom line of Zuckerberg.

Zuckerberg was tied with Warren Buffett as the fourth richest person in the world, but the US $ 83 Forbes magazine said Zuckerberg's fortune reached 66 billion US dollars (89 billion Australian dollars) .

Buffett ranks third among the world's billionaires, while Zuckerberg is sixth

Friday, closing at $ 174.89 on the Nasdaq.

Intel previously held this record with a decline of $ 91 billion ($ A123 billion) on a day in September 2000.

Founder Mark Zuckerberg, who has a 13 percent stake in Facebook, his fortune dropped more than $ 12 billion in less than 24 hours to reach about $ 74 billion ($ 100 billion).

Millions of European users had close to their accounts since the Cambridge Analytica data scandal. The record decline has brought down Nasdaq by more than one percent of technology

WALL ST FEELS TECH DROP STOCK

Overnight, major Wall Street clues have closed down The pressure on technology stocks began after Facebook gave a dismal forecast that surprised investors about growth prospects in an industry that led the market to highs.

"There may be a growing concern that the blossoming of these tech stocks, that they are not invincible," said Tim Ghriskey, chief investment strategist at Inverness Counsel at New York.

Twitter shares fell 20.5 percent The social media network reported a decline in monthly active users, against the increase expected by badysts, and warned of further declines as it removes false accounts.

The S & P 500 technology index fell 2.0 per cent, the most among the main sectors S & P. ​​

Apple, which is expected to announce quarterly results Tuesday, fell 1.7 percent .The shares of Microsoft and Alphabet, which had soared after the two companies recently released good quarterly results, dropped 1.8% and 2.5% respectively.

The Dow Jones Industrial Average lost 76.01 points, or 0.3%. The S & P 500 lost 18.62 points, or 0.66%, to 2,818.82 and the Nasdaq Composite fell from 114.77 points, or 1.46%, to 7,737.42

for the week , the Nasdaq loses 1.1%, but the S & P increases by 0.61% The Dow Jones, cushioned by the promising developments in trade relations between the United States and the European Union earlier this week, added 1.57 percent. The disappointing results of Intel and Twitter have overshadowed Commerce Department data showing that the US economy grew 4.1% in the second quarter, its fastest pace for nearly four years, spending Consumption and Soybean Shipments to China

Economists and investors warned against giving too much weight to growth, which was in line with expectations, while the boost from trade is expected ending later this year

. "Trade should have an impact on coming quarters if the tariff issue is not resolved." Shares of Amazon.com jumped up to 4% to a record high after the e-commerce giant announced strong sales and a profit that was the estimates of the double badysts. Shares closed up 0.5%.