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Foothills. firefighters continue to battle the blaze as alex larson returned home to what's gone. learning firsthand the fury of california's drought. >> it's a ticking time bomb and if something happens, all it would take would be one lightning bolt. >> reporter: from these charred hills in los angeles, to the dried out lake beds of the central valley, to the hills of albert strauss' dairy farm, the state's drought is palpable and painful. >> this is the year i've ever seen. >> reporter: farmers pressured california's governor to act. he says while he can't make it rain, he can declare a stat...

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...