There’s a class action lawsuit which is stating that Mark Zuckerberg made a quick billion off inside information. The 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 in the Facebook business model and that there is not enough advertising revenue to support stock valued at $38 a share.
The stock is at $26.90 today!
Zuckerberg is sure making a fool of the American public! Maybe someone will make a “Wall Street 3” based off the scamming of “The Social Network”!!