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Facebook shares fall below $29

Regular readers of the Simply-docs blog will be aware that, following the huge build up to its flotation (see Simply-docs blog entry of 15th May 2012), shares in Facebook have tumbled from their opening price of $38/share on Friday 18th May 2012. By the end of trade on Tuesday 29th May, shares in the social media giant  had lost almost a quarter of their initial value, dipping below $29.

In the wake of the catastrophic IPO, a class action lawsuit has been filed against Facebook, alleging that certain financial details were not revealed to potential shareholders (see Simply-docs blog entry of 23rd May 2012). BBC technology correspondent Rory Cellan-Jones said that “Facebook’s stock market debut is already going down as one of the most troubled of recent years“.

If your business is considering issuing, transferring or allotting shares, this set of template documents can help with each of these transactions.

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