Shareholder sues Facebook, CEO after $120 billion stock plunge
Facebook and its CEO Mark Zuckerberg were sued by a shareholder on Friday after the social media giant lost about $120 billion of shareholder wealth, the biggest single-day loss in US history. The shareholder, seeking unspecified damages, accused Facebook of making misleading statements or failing to disclose slowing revenue growth, falling operating margins, and declines in active users.