July 27, 2018 / 8:44 PM / 4 months ago

Facebook is sued after stock plunge

NEW YORK, July 27 (Reuters) - A shareholder of Facebook Inc on Friday filed the first of what could be many lawsuits against the social media company and Chief Executive Mark Zuckerberg following a 19 percent one-day plunge in Facebook’s share price.

The complaint filed by James Kacouris accused Facebook and Zuckerberg of violating federal securities laws, and seeks class-action status and unspecified damages. (Reporting by Jonathan Stempel in New York Editing by Susan Thomas)

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