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Why Was Mark Zuckerberg Sued?

mark zuckerberg sued

There’s a new lawsuit which is stating that Mark Zuckerberg made a quick billion off of inside information.  The class action lawsuit claims the 28-year-old CEO had inside info that the stock was grossly overvalued, and he protected his own financial hide by quickly unloading a ton of Facebook stock.  This Class action lawsuit was filed by angered Facebook shareholders after the collapse of the stock. The lawsuit is stating that he hid the fact that there is a known flaw int he Facebook business model and that there is not enough advertising revenue to support stock valued at $38 a share.  The stock is at $26 today after the big drop, but seems to be slowly raising.  Who knows what will happen next with the Facebook / Zuckerberg lawsuits.

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