• Shareholder sues Facebook, CEO after $120 billion stock plunge

    Shareholder sues Facebook, CEO after $120 billion stock plunge

    Published Date : 28-Jul-2018 12:52:03 IST

    Facebook and its CEO Mark Zuckerberg were sued by a shareholder on Friday after the social media giant lost about $120 billion of shareholder wealth, the biggest single-day loss in US history. The shareholder, seeking unspecified damages, accused Facebook of making misleading statements or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.

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