Economy - Voice of America: Regulators to Look Into Facebook IPO as Share Price Drops

Economy - Voice of America economy-and-business

Regulators to Look Into Facebook IPO as Share Price Drops May 23rd 2012, 00:52 Massachusetts' state secretary - the state's top securities regulator - has subpoenaed investment firm Morgan Stanley over allegations it may have withheld information about the future revenue of Facebook. Shares in the world's most popular social network were sold in an initial public offering Friday at $38 each.  The price of Facebook stock has since dropped to $31 a share - more than 18 percent. The Reuters news agency reported Tuesday that analysts with Morgan ...

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