Page 16 - Lead Underwriter News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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...

What's happened here? >> a lot. we can talk for a half hour about it, but basically when they went public a week ago friday, it was delayed a half hour. when it finally opened it was a huge onslaught of trades that consider canceled and some people didn't find out for a whole day. on the trading side, the nasdaq, there were so many glitches. literally, i put in an order for 200 shares. i found out a day later i got the shares. the shareholder was upset there. then there's morgan stanley, the lead underwriter, that found out as they were raising the price and opening more shares to you and me i...

Days is remarkable. what changes this dynamic here? >> look. let's understand something. it was supposed to go up 10%, 20%. the shares were defended briefly by morgan stanley, the lead underwriter, at $38. they've gone down to $31. people buying at $38 knew it was trading on 100 times earnings. they knew it was a risk there. clearly they represent a lot better straul but still priced as a very high multiple compared with google and amazon. >> opens today at $31 a share. steve sedgwick live in london, thanks. today, u.s. and iranian officials are meeting in person to discuss tehran's nuclear ...

Here's you first look at how wall street will kick off the day. the dow opens at 12,502 after losing a point yesterday. the s&p was up a fraction, but the nasdaq fell 8. taking a look at overseas trading this morning. in tokyo, the nikkei sank 172 points while in hong kong, the hang seng dropped 252. the fallout continues for facebook after its troubled ipo. shares have tumbled nearly 20% since friday and now the social network's lead underwriter, morgan stanley, is under fire from state and federal regulators. morgan stanley denies claims it informed only select clients of negative informatio...

And now the latest. >>guest: the blame game taking a serious turn with facebook shares tumbling 9 percent, and down about 25 percent since the company went public on friday. ratting to news, today, that two of the united states top securities regulators will review the problem surrounding facebook's i.p.o. that brought the stock down even further along than it was through the trading day and the s.e.c. chairwoman chiming in, saying she is going to look at specifically issues around the i.p.o. as a measure to ensure public confidence in the public market while another big regulator out there sa...