US judge names lead plaintiffs in Facebook IPO litigation
Agencies: New York, Dec 07 2012, 14:38 IST
pick a different investor. The plaintiff group picked to lead 31 cases alleging securities violations against Facebook includes the North Carolina Retirement Systems, Arkansas Teacher Retirement System, the Fresno County Employees' Retirement Association and Banyan Capital Master Fund Ltd.
The group has collectively claimed a combined $7.1 million in losses.
"Its members are large, institutional investors with experience representing shareholder classes in similar
litigation with the resources to pursue the action," Sweet said. In the securities lawsuits against NASDAQ, the judge said 0First New York Securities LLC, T3 Trading Group LLC, and Avatar
Securities LLC would act as co-lead plaintiffs. The group traded a combined $316 million in Facebook shares the day of the IPO, the decision said.
The case is In re Facebook, Inc, IPO Securities and Derivative Litigation, U.S. District Court, Southern District of
New York, MDL No. 12-2389.
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