"The revised figures were passed along only to some investors"

[cthulu2016]

Analysts for at least two of Facebook Inc.'s lead underwriters revised their financial forecasts for the company while it was holding initial-public-offering roadshow meetings with investors, according to people close to the deal.

The revised figures were passed along only to some investors, according to Scott Sweet, an adviser with IPO Boutique who worked with hedge funds and others that were buying into the deal. That angered some who didn't get the updated figures, he said.

Facebook shares slid sharply for a second straight day as analysts for at least two of Facebook's lead underwriters revised their financial forecasts for the company while it was holding IPO roadshow meetings.

Morgan Stanley and Goldman Sachs Group Inc. updated their financial projections for the social network after the company added warnings to its IPO prospectus about how its user base is increasing more rapidly than the number of ads it delivers, according to the people close to the deal. That trend was blamed in part on increased use of Facebook on mobile devices, where it traditionally hasn't shown ads to viewers.

http://online.wsj.com/article/SB10001424052702304019404577419911507532738.html

[SoutherDem]

1. Certainly not ethical

but is it even legal?