Mohd_Anis
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FB D1 Analysis - Bear is waiting

NASDAQ:FB   FACEBOOK INC
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Bear still dominating

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Do you think the downward trend is just due to recent allegation? Facebook Inc. employees were aware that the company was overestimating how many people advertisers could reach, according to an amended complaint filed this week in a nearly two-year-old lawsuit accusing the company of misrepresenting that data.
"This is a lawsuit waiting to happen," a Facebook product manager wrote to colleagues in October 2018 , regarding the company's alleged overstatements, according to the amended complaint filed Thursday. The emails were produced as part of the discovery process in the lawsuit, which is seeking class-action status and was originally filed by a small-business owner in federal court in San Francisco in 2018.
"These allegations are without merit and we will defend ourselves vigorously," a spokesperson for Facebook said in a statement.
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