The clock ticks on toward global financial Armageddon, as Moody’s slashed the ratings of 15 large global banks late Thursday. Among the banks whose rating were lowered were Bank of America, JPMorgan Chase, and Goldman Sachs. The downgrades, which would also seem to reflect the ratings company’s concern over the uncertainty in Europe and the [...]
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The Facebook IPO continues to be one of the biggest Wall Street disasters in history, and it’s only getting worse. Investors have now filed a lawsuit against Mark Zuckerberg himself. The class action lawsuit, filed by disgruntled Facebook shareholders, alleges that the 28-year-old CEO knew that his company’s stock was grossly overvalued, and that he [...]
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The Facebook IPO is quickly turning into one of the biggest financial debacles in recent memory. The carnage continues today as NASDAQ has been sued by an investor who claimed the exchange operator was negligent in handling orders for Facebook shares following its initial public offering, causing losses for investors. A separate lawsuit has been filed [...]
Facebook has just filed papers for an initial public offering (IPO) potentially worth $5 billion. That would make it the largest U.S. stock market debut in almost four years. The world’s largest social networking site filed its S-1 with the Securities and Exchange Commission on Wednesday afternoon, as was previously expected. The company did not [...]
The global, financial time bomb continues to tick as today, Standard and Poor‘s adjusted the credit ratings of several big banks after applying new criteria to the world’s 37 largest financial institutions. Among those to suffer a ratings cut: Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, Wells Fargo, and JPMorgan Chase. Ratings for Bank [...]
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In a truly bizarre move, Federal Housing Finance Agency, the federal agency responsible for overseeing Fannie Mae and Freddie Mac, filed lawsuits yesterday against 17 financial institutions in an attempt to recover billion-dollar-losses that resulted from risky, subprime mortgage loans. In the complaints, the FHFA says the lenders misrepresented the quality of the loans. “Based [...]
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As expected, social gaming giant Zynga has filed its S-1 with the SEC, indicating that the company plans to go public. Zynga aims to raise up to $1 billion. According to the filing, Zynga has 60 million daily active users in 138 countries. 38,000 virtual items are created every second and players spend 2 billion [...]
Online social gaming company Zynga plans to raise about $1.5 billion to $2 billion in an initial public offering (IPO) and could file paperwork with U.S. regulators as soon as this afternoon, according to sources. Zynga, the company behind Facebook games like FarmVille and Mafia Wars, has more than 215 million monthly active users. Rumors [...]
Continue reading " Zynga IPO Could Raise $2 billion; May Happen Today "
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