Wednesday, May 23, 2012
Zuckerberg cashed out $1.13B in Facebook shares before stock tanked | Mail Online - Mark Zuckerberg and leading Facebook investors cashed out millions of shares before the price dropped off a cliff, according to company filings. It was also revealed that a company executive issued a warning days before the Initial Public Offering that Facebook;s revenues are lower than expected, information that would have likely dropped the opening price of the stock. The new reports are already raising questions about whether top investors profited from the IPO at the expense of smaller buyers.
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