Three men have been charged in New Jersey with stealing $6.7 million from an investor, in part by claiming they had special access to Facebook shares before the company went public.
The initial price didn’t hold, gaining 11 percent as investors scrambled to get a piece of the company that started in a Harvard dorm room and became, with Friday’s trading, a more than $100 billion giant.
Facebook Inc. and its early investors now stand to reap as much as $18.4 billion from the IPO, if the extra shares reserved to cover additional demand are sold as part of the transaction.
GM returned to life as a public company as its stock started trading for the first time since the American manufacturing icon collapsed into bankruptcy last year.
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