Facebook Inc To File Motion, Discuss Nasdaq Role In IPO-Reuters

Reuters reported that Facebook Inc is set to file a motion to consolidate all the shareholder lawsuits against the social network site, and is expected to place some blame on the Nasdaq for its botched IPO when it files the motion, the New York Times reported. The document, which could be filed in the District Court for the Southern District of New York as early as Friday, will provide some perspective on Nasdaq's role on listing day and the effect the exchange's action had on the stock's trading activity, the paper said, citing a person with knowledge of the matter. The lead underwriters for the initial public offering, Morgan Stanley, Goldman Sachs and JPMorgan Chase, are also expected to join the motion, the paper reported.