U.S-located non-governmental organization FINRA (Financial Industry Regulatory Authority) alerted on March 15, 2011 that malicious scams were attempting at taking advantage of people's increased effort for acquiring private shares that belonged to Facebook the website for widespread social networking. PCWorld.com published this on March 16, 2011.
Said Vice-President of Investor Education Gerri Walsh for FINRA, scammers promoting pre-IPOs to serve the need of online-based firms were dispatching fake e-mails as well as introducing deceptive investor videos to YouTube. Bloomberg.com published this in news on March 16, 2011.
Stated FINRA that firms, which hadn't hitherto owned an IPO, occasionally had shares like those issued to member staffs, which were traded privately. Possibly Facebook allowed its employees to give away a high $1bn of their shares for sale, which meant the firm would be valued at nearly $60bn. But investors wanting to invest in private shares required being aware about unsolicited offers, while adopt measures for making sure that sellers weren't simply posing as stockholders, FINRA cautioned. Bloomberg.com reported this.
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