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
History of Facebook company that has substantially benefited from its association with Facebook, has decided to resort to litigation". The lawsuit claims that Yahoo's patents cover basic social networking ideas such as customizing website users' experiences to their needs, adding that the patents cover ways of targeting ads to individual users. In 2012, Facebook App Center, an online mobile store, was rolled out. The store initially had 500 Facebook apps which were mostly games. On April 24, 2014, Facebook and Storyful announced a new feature called FB Newswire. Facebook was initially incorporated as a Florida LLC. For the first few months after its