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 the most common incidents included inappropriate comments posted on social networking sites (43%), messages sent to contacts that were never authored (25%) and change of personal details (24%). The most incidents are carried out by the victim's friends (36%) or partners (21%) and one in ten victims say their ex-partner has logged into their account without prior consent. The survey found that online social network accounts had been subject to unauthorized access in 60 million cases in 2011. Citizens and governments have been concerned with misuse of social networking services by children and teenagers, in particular in relation to online