WASHINGTON (Reuters) - The U.S. Senate Banking Committee is reviewing "issues raised in the news" regarding Facebook's botched initial public offering, a Democratic Senate Banking aide said on Wednesday. The review is not considered a formal investigation at this point, but entails briefings among the committee staff and regulators, Facebook and other stakeholders. The announcement by the ...
(Reuters) - Two top U.S. financial regulators said the issues around the initial public offering of Facebook should be reviewed, putting fresh pressure on the company, its embattled lead underwriter and the Nasdaq. After Friday's nearly flat close and Monday's 11 percent plunge, Facebook shares closed 8.9 percent lower at $31 on volume of 101 million shares. At that price the company has shed ...
