Facebook shareholders were upset about the drop in price last week after the earnings report.
One shareholder took it so hard he filed a lawsuit against the company and CEO, Mark Zuckerberg. This is not first time move in the stock market yet one that rarely wins.
The complaint filed by shareholder James Kacouris in Manhattan federal court accused Facebook, Zuckerberg and Chief Financial Officer David Wehner of making misleading statements about or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.
The first part might have some merit if proven. However, the later sounds like a shareholder who is upset that he wasn't contacted and told to dump the stock.
Isn't that the point of earnings? Where the announcement is done at the same time for everyone?
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