Dallas, Texas 08/30/2013 (Financialstrend) – The early investors in Facebook Inc (NASDAQ:FB) are finally hopeful of returns headed their way as the Facebook Inc has finally witnessed its stock reaching the $40 marks.
Facebook may very soon initiate a $20 million class action lawsuit brought against it in 2012.
A San Francisco federal judge during December last year provided a preliminary settlement authorization for the case. On Monday evening the judge Richard Seeborg, went about approving a concluding settlement contract between the plaintiffs and Facebook which grants any person who bothered to register the required paperwork to join the case.
Facebook to get more transparent
Facebook Inc (NASDAQ:FB) has also finally agreed upon the proposals of providing greater revelation and transparency. But the judge hinted that this could all be put to bed if Facebook agrees to adopt an “opt -in” and “opt –out” Policy. He also added that Facebook cannot be forced to do so.
Facebook in its clarification has said that it is a platform for sharing information and members enrol in voluntarily and also they are not charged any fees for the services which cost hundreds or millions of dollars to the company.
Facebook’s new photo sharing
The competition amongst social networking giants is always on a high hence it becomes really imperative for companies to keep trying things out of the box. Hence, the ever innovative Facebook cone up with shared photo album feature through which multiple users can add all their photos into one spot. This new feature is expected to be loved by all and eventually become a hit. However at the initial stages only a handful of users will have access to this feature.
Rise in FB’s scrip value
The FB stock was on a high in Wednesday’s trading session witnessing a rise by 2.29%. The shares opened at a price of $39.96 and closed at $40.55 with an intraday high of $40.85.