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Submission + - Facebook faces a potential lawsuit for misleading the investors during its IPO (securityresearch.in)

akm1489 writes: "As a result of the current Security Policy or Implementation, Facebook has been notified with a responsible disclosure well in advance but has not replied.Facebook has claimed 845 million MAUs as of December 31, 2011 and 483 million daily active users (DAUs) on average in December 2011 in its filing with the SEC.So this number includes the number of real people accounts, multiple accounts, ghost accounts, virtual people, game accounts and such. Hence this becomes a breach of trust where the management has willfully misled the investors regarding its user penetration, revenue generation on ad policy. This issue led facebook to be notified with a responsible disclosure and may led to potential lawsuit."
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Facebook faces a potential lawsuit for misleading the investors during its IPO

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