Facebook IPO aftermath $FB
Zuckerberg's torture-by-attorney didn't start in the past twenty-four hours, when law firms in New York and California initiated the first of what is sure to be a slew of lawsuits related to last week's controversial I.P.O. Ever since February, when Facebook filed its initial investment prospectus, the youthful C.E.O. has had to check with his own lawyers before saying virtually anything publicly--a requirement imposed as part of the S.E.C.'s pre-I.P.O. "quiet period," which applies to any company preparing to issue stock.
Now, Zuckerberg finds himself in another spell of S.E.C. imposed omertà --a forty-day post-I.P.O. quiet period. Because of this requirement, Facebook's lawyers and outside counsel will be telling him he can't respond publicly to allegations from other lawyers that he and his cohorts on Wall Street have just diddled the public to the tune of many billions of dollars.
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