Suing Facebook? Best of Luck.

By Wednesday, after just three days of trading, several lawsuits had been filed against Facebook complaining about the adequacy of its prospectus disclosure. However, at least so far, there is no indication that anything is wrong with that prospectus.

Voices

Some Facebook Underwriters Helped Short Sellers

As traders at Morgan Stanley were frantically trying to shore up Facebook Inc.’s share price following the company’s initial public offering, other managers on the deal were helping short sellers bet that the newly minted stock would fall.

News Byte

Pinterest Hires Facebook’s Barry Schnitt to Lead Communications

Pinterest has hired Barry Schnitt as its new head of communications and public policy. Schnitt had been at Facebook for the past four years, and eight more before that at Google. He’ll start at Pinterest next month. (Excuse the inside baseball, but from a press perspective, Pinterest has been nearly impenetrable lately despite its wide usage and impact.)

News Byte

Facebook Picks Up Design Expertise with Bolt Peters Talent Grab

File this one under a small talent acquisition: Facebook has just “acqu-hired” a number of employees from Bolt Peters, a so-called research and design agency. Co-founder Nate Bolt says it will officially close on June 22, after working on more than 200 projects for 90 clients, including Sony, HP, Electronic Arts and the Washington Post. Most of the company’s six employees will be joining Facebook and reporting to Design Director Kate Aronowitz.

As Facebook Launches a Standalone Camera App, the Instagram Buy Comes Into Focus

Facebook launches a camera app, and it’s not Instagram.
FB Camera screen shot copy

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Some Big Firms Got Facebook Warning

It is one of Wall Street’s best-kept secrets: Securities firms are allowed to selectively confer with favored large investing clients about crucial information as they prepare IPOs.

Will Mr. Zuckerberg Have to Go to Washington?

Can Congress resist a juicy Facebook IPO hearing? (Of course not — it’s an election year, people!)
Mr Smith Goes to Washington 4

A Perfect Storm: Facebook’s Troubled IPO Enters More Dangerous Waters Over Disclosure

Grab the Dramamine and a life jacket (just in case)!
perfect storm

As Social Discovery Apps Proliferate, Sonar Aims for Greater Relevance

A small but relevant update to Sonar’s mobile application.
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Voices

Investors File Suit Against Facebook, Underwriters

Three Facebook Inc. investors filed a civil lawsuit Wednesday in Manhattan federal court, alleging the company and its underwriters failed to properly disclose changes to analysts’ forecasts made at the underwriting banks.

Voices

Inside Fumbled Facebook Offering

Less than three days before Facebook Inc.’s initial public offering, Chief Financial Officer David Ebersman decided to boost the number of shares the company would offer investors by 25 percent, said people familiar with the planning. His main adviser at lead underwriter Morgan Stanley assured him there was plenty of demand, they said.