 The company is being sued for $15bn - almost as much as the $16bn raised in its record breaking initial public offering - for tracking users against their wishes, even after they have logged out of their Facebook accounts.
– By the time you read this, Facebook shares will likely have begun trading (or not). But the hoopla around the IPO was slightly dampened today, thanks to a mammoth class-action privacy lawsuit filed against it. The case combines 21 separate suits accusing Facebook of tracking users even when they weren't logged in, the Telegraph reports. They're looking for $15 billion—almost enough to wipe out the $16 billion Facebook stands to take in today. In other IPO news: Mark Zuckerberg rang the opening bell this morning, in a remote ceremony from Facebook's Menlo Park campus, VentureBeat reports. The best part? The button he pushed was rigged so that ringing the bell would publish a status update on Zuckerberg's timeline: "Mark Zuckerberg listed a company on NASDAQ. — with Chris Cox and 4 others." How high will Facebook go? Well according to Joe Weisenthal of Business Insider, bids in Germany have hit $74 per share—a massive gain on the $38-per-share they've been priced at. One man watching that price with great interest? Bono. The Huffington Post points out that the U2 frontman owns 2.3% of Facebook, and may, after today, be the richest musician in the world.