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| Forum Description: Find out what's happening around the world! |
05-18-2012, 05:11 PM
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#1
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Hip Forums Webmaster
Join Date: May 2004
Location: In The Sky
Age: 58
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Facebook Sued for $15 Billion for Illegally Tracking Users
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Facebook is having a great day today! Their company went public, raising $16 Billion from the IPO today.
However in another move, Facebook users filed a $15 Billion lawsuit against the company claiming that Facebook tracks users browsing even after they have logged out of the site.
This lawsuit combines 21 different suits against Facebook.
http://www.bloomberg.com/news/2012-0...-tracking.html
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05-18-2012, 05:16 PM
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#2
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Hip Forums Webmaster
Join Date: May 2004
Location: In The Sky
Age: 58
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Facebook's IPO ran into a HUGE problem! It seems the stock DROPPED quickly and insurance companies and the brokerages had to buy up huge blocks of shares to keep the stock from dropping way below it's IPO target of 38.
To buy up all these shares, they had to SELL other tech stocks esp. other social networks like Zynga and Linkedin. Trading had to be halted in Zynga shares because it dropped so quickly!
This means the market is shorting Facebook already, right at the start. And it looks like the IPO Is DOOMED to fail. The only question I have is the impact upon the the overall tech market. Looks like the big tech bubble is once again about to break thanks to Facebook!
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Free Bradley Manning!
“In order to rally people, governments need enemies. They want us to be afraid, to hate, so we will rally behind them. And if they do not have a real enemy, they will invent one in order to mobilize us”. Thich Nhat Hanh
"You are talking to a leftist. I believe in the redistribution of wealth and power in the world. I believe in universal hospital care for everyone. I believe that we should not have a single homeless person in the richest country in the world. And I believe that we should not have a C.I.A. that goes around overwhelming governments and assassinating political leaders, working for tight oligarchies around the world to protect the tight oligarchy here at home." Abbie Hoffman
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05-18-2012, 05:23 PM
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#3
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Member
Join Date: Oct 2011
Location: Earth
Posts: 756
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I don't mind the tech bubble failing this time. Last time it crushed me and I had nothing left to invest. Stock market is phony anyways.
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All my postings in this forum are purely fictional. Don't put any substance in your body that the government doesn't approve of, after all they do know what is truly best for you and society.
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05-18-2012, 05:24 PM
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#4
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Hip Forums Webmaster
Join Date: May 2004
Location: In The Sky
Age: 58
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Nasdaq stopped short selling of Facebook. Investors wanting to short Facebook are having a hard time finding shares to sell. This indicates the demand to short the stock is far in excess to demand to buy it! The stock can only go down if this continues.
__________________
Free Bradley Manning!
“In order to rally people, governments need enemies. They want us to be afraid, to hate, so we will rally behind them. And if they do not have a real enemy, they will invent one in order to mobilize us”. Thich Nhat Hanh
"You are talking to a leftist. I believe in the redistribution of wealth and power in the world. I believe in universal hospital care for everyone. I believe that we should not have a single homeless person in the richest country in the world. And I believe that we should not have a C.I.A. that goes around overwhelming governments and assassinating political leaders, working for tight oligarchies around the world to protect the tight oligarchy here at home." Abbie Hoffman
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05-18-2012, 06:30 PM
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#5
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bastion of awesomeness
Join Date: Jan 2008
Age: 30
Posts: 5,282
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HAHAHA This is so awesome! I do use Facebook but with caution, though my life would not lose the slightest iota of quality over it; in fact, the schadenfreud of FB's demise would delight me.
I hope the lawsuit succeeds and Facebook crashes and burns!
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05-18-2012, 06:48 PM
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#6
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♫♪♫♪
Join Date: Nov 2008
Location: Central Florida
Age: 29
Posts: 4,590
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^I agree, even though I have an Assface page. I could really give a shit less if something were to happen to it.
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05-18-2012, 07:08 PM
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#7
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bastion of awesomeness
Join Date: Jan 2008
Age: 30
Posts: 5,282
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6 out of 6 members like this post.
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I wonder if there is a Facebook group for people who want to join in on the lawsuit?
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05-18-2012, 07:50 PM
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#8
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ouija don't deceive ya
Join Date: Apr 2007
Location: evil paradise
Posts: 10,037
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Man today has been a great day.
Retaliate that corruption!!!
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05-18-2012, 07:57 PM
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#9
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Senior Member
Join Date: Aug 2008
Location: South Carolina
Age: 56
Posts: 2,480
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Quote:
Originally Posted by MayQueen~420~
^I agree, even though I have an Assface page. I could really give a shit less if something were to happen to it.
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 That is exactly how I feel, May.
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05-18-2012, 08:50 PM
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#10
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Member
Join Date: May 2012
Location: Magic Wood Forest
Posts: 42
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yeeees finely finely,its about freaking time to kill that stupid site! Thanks skip for the awesome news,this made my day
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