The Securities and Exchange Commission didn't find any evidence that Facebook withheld pertinent information from investors prior to its initial public offering, Bloomberg reported today.
The commission began investigating the social network's initial public offering, or IPO, in May, after Facebook's stock dropped. The stock still hasn't recovered from that day, and is currently trading at around half of its $38 IPO price.
While the investigation isn't over, the commission has determined that Facebook did not act wrongly, an unnamed source told Bloomberg. The SEC is still looking at whether or not retail investors lost … Read more