Facebook - Friends ?

(Reuters) - Nasdaq OMX Group Inc has been sued by an investor who claimed the exchange operator was negligent in handling orders for Facebook Inc shares following its initial public offering, causing losses for investors.

In addition, a different civil lawsuit was filed against Facebook, Mark Zuckerberg, IPO underwriters Morgan Stanley & Co and others alleging violations of securities laws.

Phillip Goldberg, a Maryland resident, is seeking class-action status on behalf of all investors who lost money because Nasdaq delayed or otherwise mishandled their buy, sell or cancellation orders for Facebook stock on May 18, the day the social networking company went public.

A technical glitch delayed Facebook's market debut by roughly half an hour, and later delayed order confirmations.

Nasdaq Chief Executive Robert Greifeld told investors at his company's annual meeting on Tuesday that "clearly we had mistakes in the Facebook listing," but more than 570 million shares were processed on the first day.

Goldberg filed his lawsuit on Tuesday in the U.S. District Court in Manhattan.

SHARES SLIDE
Separately, investor Darryl Lazar filed a proposed class-action lawsuit in a California state court, alleging that Facebook's registration and prospectus were materially false, according to a statement from plaintiff law firm Glancy Binkow & Goldberg.

Reuters reported late on Monday that the consumer Internet analyst at lead underwriter Morgan Stanley cut his revenue forecasts for Facebook in the days before the offering, information that may not have reached many investors before the stock was listed.

Representatives from Facebook and Morgan Stanley could not immediately be reached for comment on the securities class-action.

Facebook shares sank on Monday and Tuesday -- their second and third days of trading -- to end at $31, more than 18 percent below the initial public offering price of $38.

The Nasdaq case is Goldberg v. Nasdaq OMX Group Inc et al, U.S. District Court, Southern District of New York, No. 12-04054.

(Reporting By Jonathan Stempel in New York; Editing by Gary Hill and Muralikumar Anantharaman)

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36 Websites shut down due to fraud

Thirty-six websites selling hacked payment card and bank details believed to be worth tens of millions of pounds have been closed down.

The move by the Serious Organised Crime Agency and the FBI is part of a day of joint action targeting cybercrime.

Officers also raided addresses in Birmingham and London and arrested two people suspected of purchasing large quantities of data to commit identity fraud.

The websites conducted transactions using an Automated Vending Cart, an e-commerce platform that allows rapid trading in large quantities of data.

The automated payment method made the sites user-friendly for purchasers unfamiliar with trading directly with organised criminals on hacking forums.

Although the sites were hosted in the US, the AVC transactions in the UK were tracked and monitored by a specialist team of Soca officers.

In a separate operation, the UK's Cheque & Plastic Crime Unit seized several computers suspected of being used to facilitate fraud offences.

Acting on information supplied by Soca, an AVC operator based in Macedonia was also arrested by the Macedonian Cybercrime Unit.

Data recovered from the sites has been passed to financial institutions to prevent potential fraud taking place against the accounts.

The move was a joint operation between Soca, the FBI and the US Department of Justice which targets organised cybercrime.

Visitors to the sites are now directed to a screen indicating the domain has been seized by the US government.

In the past two years, Soca officers have seized 2.5 million items of stolen personal data in joint operations with other international cybercrime agencies.

The total amount of data seized in these operations is estimated to have been worth £500m to cybercriminals.

Lee Miles, Head of Cyber Operations for Soca said: "This operation is an excellent example of the level of international co-operation being focused on tackling online fraud.

"Our activities have saved business, online retailers and financial institutions potential fraud losses estimated at more than half a billion pounds and protected thousands of individuals from the distress caused by being a victim of fraud."

Source SKY News May 4th 2012

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