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Facebook stock climbs, but company faces lawsuits
23 May 2012 at 6:33pm

The pre-market price for Facebook stock is shown, Wednesday, May 23, 2012 at the Nasdaq MarketSite in New York.

The lawsuit names Mark Zuckerberg, Facebook's founder, as a defendant, as well as top Silicon Valley investors Peter Thiel and Marc Andreessen.

Facebook Inc and banks including Morgan Stanley were sued by the social networking leader's shareholders, who claimed the defendants hid Facebook's weakened growth forecasts ahead of its $16 billion initial public offering.

The analysts wrote, "As we expected, PC sell-in through March was strong due to channel restocking; however, sell-through has deteriorated since then.

Add Facebook to Morgan Stanley's growing list of woes. The company's stock was falling even before last week's bungled IPO, and is now down 21% in the past month.

Your daily look at late-breaking news, upcoming events and the stories that will be talked about today : The voting that began at 2 a.m. is the greatest prize won in last year's Arab Spring uprising that toppled Hosni Mubarak.

As Facebook shares continued their slide, regulators launched inquiries into whether privileged Wall Street insiders were alerted to the company's weakening financial projections, leading them to shun the stock or dump shares just as buying was opened to the public.

A gas gauge rest on empty at a gas station, March 23, 2012, in Portland, Ore. THE CANADIAN PRESS/AP, Rick Bowmer Oil fell to a seven-month low near $91 a barrel Wednesday in Asia after Iran agreed to allow the U.N. nuclear agency to restart an investigation into the country's nuclear program.

's stock had its "sell" rating reiterated by equities research analysts at Brean Murray Carret & Co.

Bridgepoint A has hired Morgan Stanley to advise on the sale ofA Aenova , a German maker of vitamins and generic prescription drugs, according to Reuters.

Philip Clarke of Tesco can easily afford to pass on a A 372,000 bonus; he still collected about A 1.65m last year in salary, benefits plus a windfall from a maturing 2009 scheme.

The JPMorgan CEO apologized because admitting something went wrong is the way to learn from a mistake and avoid a repeat.

A number of other analysts have also recently weighed in on SUNH. Analysts at Jefferies Group raised their price target on shares of Sun Healthcare Group to $8.00 in a research note to investors on Tuesday, May 8th.

The fire retardant industry engaged in a decades-long deception about its products, which are often filled with cancerous materials, the Chicago Tribune reports.

In 2010, after years of addiction to prescription drugs and having relapsed following a fourth visit to rehab, 24-year-old Cameron Bradbury locked himself in his room at his parents' home and shot himself.