SecInvestigation

The Shocking Story of What Really Happened Inside Facebook's IPO

First, we learned Facebook's IPO underwriters had cut their estimates for the company in the middle of the IPO roadshow. What we didn't know was why. Now we know. The analysts cut their estimates because a Facebook exec who knew the business was weak told them to.

Facebook's IPO Debacle, Day 3: Un-Friended and Dis-Liked on Wall St.

Facebook has ended its third trading day and the world is falling apart -- again. The stock closed Tuesday at $31, down 19% from the $38 IPO price, lead underwriter Morgan Stanley is under fire, the SEC is ready to investigate, and analysts are blaming everyone. Oh, and the fundamentals? Those haven't changed a bit.