Sam Ruddman News Today

Document. and facebook is responsible for whats in that document. the lawsuit focuses on disclosure in that document. concerning revenue growth or revenue trends at the company and we state that that was misleading. under the facebook, thats why theyre also a defendant in this lawsuit, facebook. >> so in total, sam, i want to look at all the defendants, you have facebook inc., you have early facebook investors, morgan stanley, jpmorgan. goldman sachs, merrill lynch and ba barclays, capital. are ...

Out in litigation. >> so, how much of a factor, sam, do you think facebooks poor performance has played into the plaintiffs joining this suit? meaning are people just mad that its not performing as well as they thought it would. and should it start zooming up next week, might investors feel differently? >> well, sure. if the stock goes up, investors are always going to feel differently. if it goes to 100 tomorrow, im not sure whats going to happen with the lawsuit. but we deal with the facts as ...

The first few days. any way you cut it. >> i didnt mean to interrupt you. in terms of seeking damages, how much are you looking for? >> well right now the statutory damages are somewhere north of $2.5 billion. the defendants will have an opportunity in the lawsuit to claim some of those damages are unrelated to anything we claim was a misrepresented or omitted in the registration statement. >> all right. sam ruddman, thank you so much for taking time on this busy weekend as you get ready for thi...

Latest updates on this topic.