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The company did not report the deceleration of revenue
CITY OF MEXICO.- Facebook and its CEO, Mark Zuckerberg, were denounced in what could be the first of many disputes due disappointing results report from the company's social networks, which canceled about $ 120 billion of its market capitalization.
The lawsuit filed by shareholder James Kacouris in a federal court in Manhattan accused Facebook, Zuckerberg and the chief financial officer, David Wehner, of making misleading statements or failing to signal the slowdown in growth revenues, lower operating margins and the decline of active users.
Kacouris said the market was shocked when the truth about the company began to be heard on Wednesday. Menlo Park, California
The shareholder indicated that the collapse of 19% of the shares the following day was due to Sentences to the Federal Securities Act
The measure aims to become a class action and requires non-detailed compensation.
Shareholders usually sue companies in the United States after unexpected stock price declines. shares, especially if the loss of value is large.
Facebook has faced ten lawsuits because of data manipulation of its users amid a scandal involving British firm Cambridge Analytica. Many have been consolidated in a federal court in San Francisco.
The collapse also affected Zuckerberg, who ranked fourth in the world's richest rankings. El Financiero
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