Facebook co-founder sells all Class A shares
Recently, Dustin Moskovitz, co-founder of Facebook
Inc(NASDAQ:FB) has now sold all his Class A shares. Earlier, he sold his stocks
in small chunks of 150,000 on a daily basis. But last week, he sold all the
remaining shares in three distinct trades between September 5 and September 7.
The filing report with Securities and Exchange
Commission reveals that Moskovitz, who is now the co-founder of startup Asana
made $104 million from these final trades. Starting from the time of lockup expiration,
he has sold 7.5 million shares for almost $143 million.
Can
FB Rebound After The Recent Slump? Find Out Here
But Moskovitz continues to hold his 126.2 million
Class B shares. He cannot sell them on the market unless it converts them to
Class A shares. So further offloading will surely not take place immediately.
Facebook closed at $18.98 on Friday, more than 50
percent lower than the listed price of of $38. The only consolation is that it
is above the week’s low of $17.55.
Settlement likely in Apple vs. Samsung case
A patent lawyer of a well-known legal firm is of the
opinion that Apple Inc.(NASDAQ:AAPL)’s chances of winning an injunction
restraining Samsung Electronics from selling its smartphones and tablets is
less than 50 percent. This despite the fact that two weeks ago, the court had
ruled in Apple’s favor.
According to Peter Misek of Jefferies and Co., the South
Korean company will not succeed in reversing the verdict in its entirety while
it might be possible to get it partially overturned. Apple on the other hand
will probably find it very difficult to get an injunction against Samsung. This
is because in the past, the Federal Court has often overturned patent case
verdicts passed by district court judges, and in this case it will at least be
partly so. Apple has to prove that the amount of damages is insufficient to
overcome the loss caused from continuing Samsung sales. The case will be heard
on December 6. But it is very likely that the two companies will settle.
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