Since Facebook’s I.P.O, the blame game has been popular in Silicon Valley. While many have pointed fingers at Nasdaq, others have taken aim at Facebook and its underwriters for pursuing a large offering at a high price.

Facebook’s stock has tumbled in the public markets since its debut, disappointing shareholders. More than 30 cases have been filed against Facebook, mostly in New York and California. While shares of Facebook rose more than 3 percent to $28.29 on Thursday, the stock remains more than 25 percent below its offering price of $38 per share.

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