244
Fashion Jobs
H&M
Visual Merchandiser Manager- Newmarket
Permanent · AUCKLAND
L'OREAL GROUP
Operations & Transport Manager
Permanent · AUCKLAND
ABBOTT
Tpm Contract Manufacturing Manager
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Optometrist - Opsm Rotorua
Permanent · ROTORUA
DANGERFIELD
Online Coordinator
Permanent · AUCKLAND
PUMA
Key Account Manager nz
Permanent · AUCKLAND
L'OREAL GROUP
Key Account Manager
Permanent · AUCKLAND
PETER ALEXANDER
Part Time - Sales Assistant - Peter Alexander nz - Queenstown
Permanent · QUEENSTOWN
FOOT LOCKER
Sales Associate Casual
Permanent · LOWER HUTT
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Manukau
Permanent · AUCKLAND
ESSILORLUXOTTICA GROUP
Retail Associate | Sunglass Hut Dunedin
Permanent · DUNEDIN
ESSILORLUXOTTICA GROUP
Retail Associate | Opsm Rangiora Eyecare
Permanent · CANTERBURY
PETER ALEXANDER
2 x Casual - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
PETER ALEXANDER
2 x Part Time - Sales Assistant - Peter Alexander nz - MT Maunganui
Permanent · AUCKLAND
LULULEMON
Assistant Manager | Christchurch (Tuesday - Saturday Rotation)
Permanent · CHRISTCHURCH
ICEBREAKER
Icebreaker : Sales Associate, Casual - Wellington Airport Touchlab
Permanent · WELLINGTON
DFS
Personal Shopper
Permanent · AUCKLAND
H&M
Department Manager- Chartwell (Hamilton)
Permanent · HAMILTON
H&M
Store Manager Wellington
Permanent · WELLINGTON
H&M
Sales Advisor- 28h
Permanent · AUCKLAND
H&M
Assistant Store Manager- Sylvia Park
Permanent · AUCKLAND
H&M
Department Manager- Sylvia Park
Permanent · AUCKLAND
By
Reuters
Published
Jul 30, 2018
Download
Download the article
Print
Text size

Facebook is sued after stock plunge 'shocked' market

By
Reuters
Published
Jul 30, 2018

Facebook Incand its chief executive Mark Zuckerberg were sued on Friday in what could be the first of many lawsuits over a disappointing earnings announcement by the social media company that wiped out about $120 billion (91.51 billion pounds)of shareholder wealth.




Kacouris said the marketplace was “shocked” when “the truth” began to emerge on Wednesday from the Menlo Park, California-based company. He said the 19 percent plunge in Facebook shares the next day stemmed from federal securities law violations by the defendants.

The lawsuit seeks class-action status and unspecified damages. A Facebook spokeswoman declined to comment.

Shareholders often sue companies in the United States after unexpected stock price declines, especially if the loss of wealth is large.

Facebook has faced dozens of lawsuits over its handling of user data in a scandal also concerning the U.K. firm Cambridge Analytica. Many have been consolidated in the federal court in San Francisco.

Thursday’s plunge also hit Zuckerberg’s bottom line.

Zuckerberg had been tied with Warren Buffett as the world’s fourth-richest person, but the Berkshire Hathaway Inc chairman’s current $83 billion fortune tops Zuckerberg’s $66 billion, Forbes magazine said.

Buffett now ranks third among the world’s billionaires, while Zuckerberg is sixth.
Facebook shares fell another 0.8 percent on Friday, closing at $174.89 on the Nasdaq.
The case is Kacouris v Facebook Inc et al, U.S. District Court, Southern District of New York, No. 18-06765.

© Thomson Reuters 2024 All rights reserved.

Tags :
Media