Sam Ruddman News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Document. and facebook is responsible for what's 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, that's why they're 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 they all equally at fault? >> alex, that's something that the court is going to have to decide. u...

Out in litigation. >> so, how much of a factor, sam, do you think facebook's poor performance has played into the plaintiffs joining this suit? meaning are people just mad that it's 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, i'm not sure what's going to happen with the lawsuit. but we deal with the facts as we know them today. and when he we look at the facts today, what you see is an ipo that was trem...

The first few days. any way you cut it. >> i didn't 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 things. i want to let you know that morgan stanley and facebook, we did reach out to facebook, they ...

Latest updates on this topic from reliable sources.