General Discussion
In reply to the discussion: facebook will soon lose 80 percent of its users study says [View all]wercal
(1,370 posts)What is alleged is criminal - insider trading. The creative forces behind Facebook, like Zuckerberg, will be devoting their energy towards keeping this from snowballing into a criminal investigation. I think it will be a large distraction, as its more than 'just money' on the line.
And just a general sense of exasperation can drain the energy of the top brass. I can't remember the last time I saw a positive story about Zuckerberg or Facebook. All I see are stories about privacy complaints, people changing citizenship before selling stock to avoid taxes, and of course the glitches during the IPO, and now the accusations of hiding information before the IPO. Facebook may be becoming a lot less 'fun' to work at, and that slowly takes a toll.
BTW, one of the litigants in the suit is the public employee pension fund of California. This isn't some small fry who can be bought off for a half million dollars - it looks very likely to go to trial....and Facebook will get even more bad press.