Belgian Facebook shareholders file complaint en masse

Dolor, an organisation defending the interests of shareholders, has received 200 complaints in connection with the floatation of the social media website Facebook on the stock exchange. Dolor anticipates many more complaints.

Since the floatation the value of shares in Facebook have fallen from 39 US dollars to 31 US dollars. In the US where the company is based there have been countless complaints.

Facebook stands accused of setting an artificially high opening price and of not providing all investors with the same information about the prospects for the share. The banks supervising the floatation face allegations of snapping up all the shares themselves and not leaving any over for small investors.

Hendrik Boonen of Dolor: "We let up a balloon last week and there has been a storm of reactions."

"We don't have exact figures, but there are indications that some 30,000 Belgians bought Facebook shares. There are certainly more than 200 shareholders in Belgium who would not have bought shares if they had been given more information."