As Facebook launched its IPO on Friday, it was hit with yet another class action lawsuit over its practice of tracking of users even after they had logged out of its website. The amended consolidated class action complaint was filed by Stewarts Law in a San Jose, Calif., federal court. The timing of the announcement “is a good way for the plaintiffs to generate publicity for the lawsuit, which could impact stock prices and, accordingly, exert leverage to settle the case,” said Yasha Heidari, managing partner at the Heidari Power Law Group.
Loading ...
Class Action Suit Looks to Squeeze Facebook for $15B
Posted by: Richard Adhikari May 18, 2012 02:24 PMAs Facebook launched its IPO on Friday, it was hit with yet another class action lawsuit over its practice of tracking of users even after they had logged out of its website. The amended consolidated class action complaint was filed by Stewarts Law in a San Jose, Calif., federal court. The timing of the announcement “is a good way for the plaintiffs to generate publicity for the lawsuit, which could impact stock prices and, accordingly, exert leverage to settle the case,” said Yasha Heidari, managing partner at the Heidari Power Law Group.