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Mark Zuckerberg insider trading scandel

Discussion in 'BlackHat Lounge' started by Roparadise, Jun 4, 2012.

  1. Roparadise

    Roparadise BANNED BANNED

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    According to TMZ, Zuckerberg is being sued for having knowledge that FB was overvalued but sold $1 billion worth of stock to protect himself when it dropped.

    http://www.tmz.com/2012/06/04/facebook-mark-zuckerberg-sued-insider-trading/

    FB is down another 2% today in related news.
     
  2. illfounded21

    illfounded21 Senior Member

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    I think everyone knew it would tumble. I guess some people just choose not to believe it or kidded themselves.
     
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    Last edited: Jun 4, 2012
  3. pallyD

    pallyD Junior Member

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    Facebook has more problems? Who saw that one coming?...
     
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  4. Roparadise

    Roparadise BANNED BANNED

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    One investment firm is predicting that FB will be overtaken in 5-8 years from a new company.
     
  5. Taktical

    Taktical Elite Member

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    Zuckerberg is a prick and the investment bankers who thought they could pitch FB at $104 billion were just trying to rip off everyday people. However it looks like everyday people aren't as stupid as Wall Street hopes they are.
     
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  6. facebookdude

    facebookdude Elite Member

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    Mark Fuckerberg.
     
  7. Roparadise

    Roparadise BANNED BANNED

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    This is what happens when a company is run by a immature kid,that cannot even dress correctly to wall street.
     
  8. Roparadise

    Roparadise BANNED BANNED

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    When this goes to trial, do you guys think FB is going to fall to below $20 a share?
     
  9. loclhero

    loclhero Supreme Member

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    I would be surprised if FB is even a viable product by then.

    He has got to be the biggest douchebag in the history of the world. He plays himself as not caring about impressing anyone but he's just a pud.
    Motley Fool had a great article about him the other day. His company is sinking like a rock, it's being investigated by who knows who at this point and
    now this lawsuit and he is MIA.
    Article at http://beta.fool.com/kprogers/2012/06/03/hello-facebook-your-ceos-gone-missing/5293/


    I would think any suit would take a while to go to trial but at the rate it's going FB will be at $20 by the end of June
     
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  10. mrobeng

    mrobeng Registered Member

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    Zuckerburg should never be trusted. The kid is the smartest douchebag of our times. Facebook has reached it's peak and for those thinking Facebook can compete with Google, you must be joking. I doubt Facebook will collapse as dramatically as Myspace but investors should have known that Richard Brunson bought Myspace for about $1billion and sold it a couple of years later for about $80 million.
     
  11. thejake

    thejake Jr. VIP Jr. VIP Premium Member

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    I wonder if anybody is voicing market-maker complacency in this little pump&dump (SEC should be investigating the millions of trade-hours of purchases and cancels pending for hours on May 18) - isn't it convenient that Morgan Stanley was able to work around trigger trades that weren't executed due to Nasdaq "malfunctions?"
     
  12. Roparadise

    Roparadise BANNED BANNED

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    Motley Fool is the only news source I have seen that have talked about the millions that are fake, They are estimating 50 million fake and duplicate accounts, which is probably a 1/3 of the real amount.
     
  13. BlueZero

    BlueZero Power Member

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    I just like to see FB falling down. Overpriced as hell!
     
  14. mrobeng

    mrobeng Registered Member

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    Yeah I read the Motley Fool article and I laughed. I am sure BHW members alone have about 50 million fake accounts. I wouldn't be surprised if there are at least 100 million fake accounts. And I am sure Facebook knows this but did not mention that in their manifesto. Like I said, Zuckerburg should never be trusted. He stole the whole Facebook idea in the first place and was successfully sued for it.
     
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  15. Push Advertising

    Push Advertising Newbie

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    Yes Facebook was a miss, Twitter will win the social media war. It's evident.
     
  16. loclhero

    loclhero Supreme Member

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    No shit huh? I have laughed my balls off for years now every time I hear some news source claiming 900 million accounts. I swear the older I get the more I think people cannot possibly get dumber and I'm always proven wrong.
     
  17. gaatr

    gaatr Registered Member

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    I agree completely - who ever thought this company was worth $100B was a lunatic and wall street firms tried to sell it to the public -- Secondly, they tried to say they "haven't figured out the next monetization for facebook" -- sounds like a bunch of snake oil to me.

    Thirdly, the large majority of people that spend a large majority of time on facebook, haven't got a large majority of money -- anyways .. my 3 cents
     
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  18. Crewchief007

    Crewchief007 Power Member

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    Mark Z., definitely pulled a fast one but his act may comeback to bite him in the arse if the SEC decides they have enough evidence to convict him. Considering the palpable mental fortitude of most suits on Wall St., one can almost be guaranteed there are hordes of people in Mark's inner circle talking to SEC investigators under conditions of immunity.

    As the saying goes, "They are singing like canaries!"

    As far as FaceBook goes, like all other social networking sites, it is a FAD that will eventually FADE away. The institutional investors who dumped money into this IPO should be body slammed! What stock analyst worth his or her salt - thoroughly examines FaceBook from top to bottom and subsequently says. "I rate FBs stock as a 5 BUY!?" Honestly?

    Right now, Mark's best bet is to pack his bags and flee to a country that does not have an extradition treaty with the United States because it's starting to look like he will be a cellmate with Bernie Madoff.
     
  19. Serp_Pimp

    Serp_Pimp Junior Member

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    Love the fact that its being reported on TMZ

    Well I guess it really is 2012.

    koombaya my lord... kooombayaaaaaaaaa
     
  20. download

    download Jr. VIP Jr. VIP Premium Member

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    A successful IPO for him - Zuckerberg is pretty smart for dumping as soon as it hit the market. ;)
    Unfortunate that people actually fell for it.