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 researchers to debate the establishment of Internet addiction as an actual clinical disorder. Social networking can also affect the extent to which a person feels lonely. In a "Newsweek" article, Johannah Cornblatt explains "Social-networking sites like Facebook and MySpace may provide people with a false sense of connection that ultimately increases loneliness in people who feel alone." John T. Cacioppo, a neuroscientist at the University of Chicago, claims that social networking can foster feelings of sensitivity to disconnection, which can lead to loneliness. Fabio Sabatini and Francesco Sarracino found that if an individual tends to (a) trust people and (b)