Facebook IPO Losses Are Investors & Brokers Faults: Mark Cuban

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HFA Staff
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As the finger of blame for Facebook Inc (NASDAQ:FB)’s disappointing IPO performance swivels around the room and points at various parties, billionaire investor Mark Cuban comes out in support of Facebook Inc (NASDAQ:FB)’s beleaguered CFO, David Ebersman. Ebersman has been pilloried by all for fixing a very high offering price of $38, and then raising the issue size by 25 percent, in a move that probably had far-reaching repercussions – the excess supply, coupled with insider selling, helped beat the stock down to $17.75 currently from its lofty $38 issue price. Andrew Ross Sorkin has been particularly hard on Ebersman, saying…

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