The Real Deal New York

Benefiting from Facebook’s flop

Brokers say NYC real estate could get a boost as investors recoil from stock market

June 06, 2012 10:30AM
By Leigh Kamping-Carder

1 People Viewed

From the June issue: Amidst a storm of hype and conflicting expectations, Facebook went public last month, allowing average investors to buy a piece of the social networking juggernaut at $38 per share.

In the days that followed, however, the company’s stock price slid, newly minted shareholders launched a class-action lawsuit claiming underwriters kept damaging information from the public while tipping off favored clients and federal regulators pledged to investigate the alleged improprieties. [more]

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