History of Facebook investigate whether banks underwriting Facebook had improperly shared information only with select clients, rather than the general public. Massachusetts Secretary of State William Galvin subpeonaed Morgan Stanley over the same issue. The allegations sparked "fury" among some investors and led to the immediate filing of several lawsuits, one of them a class action suit claiming more than $2.5 billion in losses due to the IPO. Bloomberg estimated that retail investors may have lost approximately $630 million on Facebook stock since its debut. History of Facebook Facebook is a social networking service launched on February 4, 2004. It was founded by
Social networking service credibility) of a public pages maintained over Facebook. In some online social networks like Twitter, users have evolved mechanisms to report spammers which has been studied and analyzed. Privacy concerns with social networking services have been raised growing concerns among users on the dangers of giving out too much personal information and the threat of sexual predators. Users of these services also need to be aware of data theft or viruses. However, large services, such as Myspace and Netlog, often work with law enforcement to try to prevent such incidents. In addition, there is a perceived privacy threat in relation