Equity firm's IPO falls short
NEW YORK — Private equity firm The Carlyle Group raised $671 million from its initially public offering of some 30.5 million common units. The com
Facebook sets stock range
NEW YORK — Facebook, the company that turned the Web social, has set a price range for an initial public offering of stock that values the company at up to $95 billion. Facebook's IPO would be the biggest ever for an Internet company. Facebook disclosed the price range of $28 to $35 per share in a regulatory filing Thursday. At the high end, Facebook and its current shareholders could raise as much as $13.58 billion. That happens if the underwriters sell extra stock reserved for overallotments, which they will likely do given the excitement surrounding the IPO. That's much higher than the 2004 IPO for current record-
Fee deadline set in court case
BUFFALO, N.Y. — A New York man suing for half ownership of Facebook has two weeks to either pay more than $90,000 in court-awarded fees to the social networking site's lawyers or show a judge why he can't. The fees cover the time Facebook's lawyers spent filing paperwork to get Paul Ceglia to comply with orders to turn over materials as part of his lawsuit against the Menlo Park, Calif.-based company and its founder, Mark Zuckerberg. A U.S. magistrate in Buffalo gave Ceglia 14 days from Thursday to either pay or produce bank accounts, tax returns and other documents to show why he can't. The order says Ceglia's failure to comply could bring even more sanctions, including the lawsuit's dismissal.
Yahoo CEO faces challenge
SAN FRANCISCO — A major Yahoo shareholder is accusing the Internet company's CEO of lying about his technology credentials to make himself appear more qualified for the job. Activist hedge fund Daniel Loeb says he has discovered that Yahoo CEO Scott Thompson doesn't have a bachelor's degree in computer science from Stonehill College near Boston as the company states in regulatory documents filed last week. He made the allegation in a letter on Thursday to Yahoo's board of directors. Yahoo Inc. confirmed Loeb's findings, but the company attributed the mis
Continue reading this story on the...