The social networking company's stock priced at $38 in its initial public offering on May 18. Rather than a seeing a big first-day-pop, it closed just 23 cents higher on the following day. Now, it's about 20 per cent below the IPO price.
The stock's public debut was marred by technical glitches at the Nasdaq Stock Market that delayed trading. The company and the investment banks that led the IPO face shareholder lawsuits, which Facebook say are without merit.
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