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Regulators Raise Questions About Facebook IPO04:55

This article is more than 8 years old.

Did Morgan Stanley and other Wall Street banks warn its top clients that Facebook might not be such a good deal based on insider information? And if they did, was that illegal?

In Massachusetts, Secretary of State William Galvin issued a subpoena to find out what Morgan Stanley analysts told investors about the deal.

Wall Street's self-policing agency is investigating and a small investor in Maryland is hoping to launch a class action suit accusing NASDAQ of botching the IPO  due to computer glitches that delayed the launch.


  • Lee Spears, Bloomberg news markets reporter

This segment aired on May 23, 2012.

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