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lead analysts at morgan stanley, the main underwriter for the facebook ipo, received privileged information about the company, information that they didn't share with retail investors. finra, the financial industry regulation authority, regulatory authority, the u.s. senate banking committee, and the commonwealth of massachusetts have all announced probes into the matter, and that was quickly followed by a lawsuit filed by some investors against facebook and its ceo, mark zuckerberg, alleging that both withheld material information from investors during the ipo process. now, specific...
from investors during the ipo process. now, specifically they are talking about forecasts that revenue would be lower in 2012. facebook tells cnn, by the way, that the lawsuit is without merit. ron is a former s.e.c. investment attorney. henry blodgett, ceo of business insider, a website. back in 2003 henry settled a civil securities charge with s.e.c. he was banned from the securities industry. he's a good friend of our show. henry, i say this because it's relevant to our discussion. you probably know more about this now than most people do. >> unfortunately. >> if no laws were brok...