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 research study conducted by Australian researchers demonstrated that a number of positive psychological outcomes are related to Facebook use. These researchers established that people can derive a sense of social connectedness and belongingness in the online environment. Importantly, this online social connectedness was associated with lower levels of depression and anxiety, and greater levels of subjective well-being. These findings suggest that the nature of online social networking determines the outcomes of online social network use. Social networks are being used by activists as a means of low-cost grassroots organizing. Extensive use of an array of social networking sites enabled organizers