A tidy sum of average joes put on their simulated - finance capital during the Facebook IPO and hoped it would get them productive . Everyone practice Facebook therefore everyone want to corrupt Facebook stock , the system of logic snuff it . Yeah , it did n’t work out that way . I ’m certain a lot of people lost money . One pitiful woman , Uma Swaminathan , lost her full life saving and kinda wants a re - do .
Uma Swaminathan , who ’s a retired teacher and a widow woman , is try out to get restitution on the money she lost during the Facebook IPO . She had ordered her broker , Vanguard , to buy 6,200 shares of Facebook but then she alter her judgement when Facebook did n’t begin trading as expected . Vanguard purportedly did n’t cancel in meter and now she ’s lost a respectable chunk of change .
what is more , Swaminathan has beef with Morgan Stanley too . fit in to Reuters :
Morgan Stanley , she said , “ informed their own inner customer ” that it was downgrading its lookout on the stock , just before the IPO , and then issued more shares while raising the monetary value “ just to suck more gull into the stock , ” according to her FINRA charge file in July .
I ’m reasonably sure once the money is lead , the money is go but Swaminathan wants $ 1.9 million in terms . Good fortune ? [ ReutersviaBusiness Insider ]
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