20 Dec 2013

Facebook taken to court over float information

12:29 pm on 20 December 2013

Facebook is being taken to court over whether it concealed information before its public float last year.

Founder Mark Zuckerberg and other senior executives are also being taken to court.

The social network is accused of misleading investors about its expected revenues.

The company reportedly failed to disclose internal projections on how increased mobile usage could reduce future revenues.

Facebook says the lawsuit lacks merit.

But the BBC reports the judge says investors do have a case.