Techmeme: Exclusive: Massachusetts subpoenas Morgan Stanley for Facebook (Jessica Toonkel/Reuters)

May 23, 2012, 9:20 AM

Top News

EXCLUSIVE: Here's The Inside Story Of What Happened On The Facebook IPO — And now for some more bombshell news about the Facebook IPO... Earlier, we reported that the analysts at Facebook's IPO underwriters had cut their estimates for the company in the middle of the IPO roadshow, a highly unusual and negative event.

More: Betabeat, CNNMoney.com, Fast Company, SocialTimes, PC Magazine, Gawker, Reuters, CNET, CNET, Computerworld, Forbes, Webomatica, Mashable!, NevilleHobson.com, The Register, BostInno, Dealbreaker, The Big Picture, VentureBeat, Yahoo! Finance, The Reformed Broker, AllThingsD and Tech and China

Tweets: @mathewi, @pkafka and @dmac1

Wall Street Journal:

Inside Fumbled Facebook Offering — Less than three days before Facebook Inc.'s initial public offering, Chief Financial Officer David Ebersman decided to boost the number of shares the company would offer investors by 25%, said people familiar with the planning.

More: Uncrunched, Business Insider, Reuters, Bloomberg, Gizmodo, Wall Street Journal, TechFlash and Mashable!

Michael Wolff / Technology Review:

The Facebook Fallacy — Facebook is not only on course to go bust, but will take the rest of the ad-supported Web with it. Given its vast cash reserves and the glacial pace of business reckonings, that will sound hyperbolic. But that doesn't mean it isn't true.

More: Guardian. Tweets: @carnage4life. See also Mediagazer

Reuters:

Facebook, Zuckerberg, banks sued over IPO — (Reuters) - Facebook Inc, Chief Executive Mark Zuckerberg, and several banks led by Morgan Stanley were sued by shareholders, who claimed the defendants hid the social networking leader's weakened growth forecasts ahead of its $16 billion initial public offering.

More: Business Insider and The Next Web

Reuters:

SEC, FINRA to review Facebook issues, Nasdaq sued

More: DealBook, TechWeekEurope UK, Business Insider, CNET, Washington Post, The Reformed Broker, Tech Trader Daily and Digits

Reuters:

The numbers on the Facebook earnings revisions

More: Techland and Business Insider

Bob Van Voris / Bloomberg:

Facebook Investor Sues Nasdaq Over Delays In Offering

More: Business Insider, CNET, VatorNews, Reuters and CNET

Jessica Toonkel / Reuters:

Exclusive: Massachusetts subpoenas Morgan Stanley for Facebook

More: The Register, Mashable!, ITProPortal and Boston Herald

Shane Richmond / Telegraph:

Jonathan Ive interview: Apple's design genius is British to the core — Apple's design guru Jonathan Ive, who receives a knighthood today for creating products such as the iPad, tells Shane Richmond why this country's industrial heritage lies behind his success.

More: The Register, BGR, CNET, The Next Web, 9to5Mac, Business Insider, BBC, Digital Trends, Inquirer, The Verge, GigaOM, Forbes, MacDailyNews, iDownloadBlog.com, MacNN, PhoneArena, I4U News and The Next Web. Thanks:@shanerichmond

9to5Mac:

Likely next-generation iPhone with 3.999-inch display, 1136 x 640 resolution in testing (updated: more decimals) — Apple is testing multiple next-generation iPhones, and we have independently heard that at least one of these devices sports a brand new display.

John Gruber / Daring Fireball:

THX1136 — Big scoop by 9to5 Mac: … What I've heard …

More: IntoMobile, 9to5Mac, Marco.org, T3 News, parislemon and Gotta Be Mobile

Robert McMillan / Wired:

IBM Outlaws Siri, Worried She Has Loose Lips — Siri doesn't work on IBM's internal networks. (Image: Flickr/Photo Giddy) — If you work for IBM, you can bring your iPhone to work, but forget about using the phone's voice-activated digital assistant. Siri isn't welcome on Big Blue's networks.

More: AppleInsider, The Next Web, Gizmodo, TechWeekEurope UK, memeburn, iDownloadBlog.com, Cel mai citit blog … and Ubergizmo

Mazhar Mohammed / The Windows Blog:

Starting today you need Windows Phone 7.5 to use Marketplace — Today's the day. This afternoon we started requiring Windows Phone 7.5 on phones to download, buy, update, or review apps in Marketplace. As I've written previously, this change applies to both the phone and web Marketplace storefronts.

More: Inquirer, Phones Review, All About Windows Phone, WMPoweruser, The Verge, Engadget, Pocketnow, Neowin, PhoneArena and FierceMobileIT. Tweets: @theromit

Nathan Olivarez-Giles / Wired:

ITC Judge: Xbox Should Be Banned From U.S. Over Motorola Patent Violation — An ITC judge has called for a sales and import ban on Microsoft's Xbox 360 gaming console. Photo: Chris Kohler/Wired — A judge at the U.S. International Trade Commission has ruled that Microsoft's Xbox videogame consoles …

More: Ars Technica, GamePolitics blogs, VG247, 9to5Google, Kotaku and Courthouse News Service

Tweets: @fosspatents and @fosspatents

Matt McGee / Search Engine Land:

Bing's Visual Search Is Gone (Has Been For A While, Actually) — The fact that almost no one noticed might be one reason why Bing has dropped its Visual Search feature ... something that apparently happened months ago. — To be clear, this isn't traditional image search that we're talking about …

More: LiveSide.net

Ernesto / TorrentFreak:

Pirate Bay Simplifies Circumvention of ISP Blockades — Within a few days, five of the largest UK Internet providers will all have to censor The Pirate Bay. Virgin and Orange have already implemented the block and the rest must follow before the end of May.

More: Softpedia News, gHacks Technology News and CNET

Colleen Taylor / TechCrunch:

Airtime Acquires Former Hulu CTO's Startup Erly, Raises $25M Series B Funding — We've learned that Airtime, the video startup founded by famed Napster alums Shawn Fanning and Sean Parker, has allegedly made its first acquisition — before truly exiting stealth mode. The target?

More: Airtime, CNET, The Next Web and AllThingsD

Heather Kelly / VentureBeat:

Google+ wants to be your new Flickr — Google+ is succeeding in small bursts, feature by feature. As a social network competing with Facebook it's a flop, but its video-chat tool Hangouts is a winner. Now photo sharing is poised to be the service's next breakout hit …

More: Mashable! and GigaOM

Sarah Perez / TechCrunch:

Clueful Scans The Apps On Your iPhone, Tells You Which Ones Are Doing Naughty Things With Your Data — Remember address book-gate? Locationgate? I-don't-know-what-my-apps-are-doing- on-my-phone-gate? (Oh, that last one might not be a real thing.) Regardless, we're living in age …

More: Experts Exchange, MarketWatch, Digital Trends, Appolicious Advisor and CNET

New York Times:

Google Privacy Inquiries Get Little Cooperation — Secrets spilled across the computer screen. — After months of negotiation, Johannes Caspar, a German data protection official, forced Google to show him exactly what its Street View cars had been collecting from potentially millions of his fellow citizens.

More: Media Decoder

Dan Levine / Reuters:

Facebook settles lawsuit over “Sponsored Stories” — (Reuters) - Facebook Inc. has agreed to settle a proposed class action lawsuit that alleged the site's “Sponsored Stories” feature publicized users' “likes” without compensation or the ability to opt out, according to a court document filed on Tuesday.

More: The Next Web, CNET, Computerworld, Pulse2 Technology …, Digits, VentureBeat, WebProNews, Marketing Land, Los Angeles Times and Inside Facebook

Vlad Savov / The Verge:

Windows 8 boots ‘too quickly’ to be interrupted, Microsoft adding a new ‘boot options’ menu — Did you know that an SSD-equipped Windows 8 PC can boot up in under seven seconds? Watch the video below if you don't believe it, Microsoft has really optimized the hell out of the startup operations …

More: Inquirer, The Official Microsoft Blog, MSDN Blogs, CNET, Engadget, Neowin, TechPinions, Everything Microsoft, Liliputing and WinBeta

Brian Krebs / Krebs on Security:

Google to Warn 500,000+ of DNS Changer Infections — Google plans today to begin warning Internet users if their computers show telltale signs of being infected with the DNSChanger Trojan. The company estimates that more than 500,000 systems remain infected with the malware …

More: Computerworld, SecurityWeek, CNET, Help Net Security, Ars Technica, Google Online Security Blog and Dennis Fisher

Jerry Hirsch / Los Angeles Times:

Plan for self-driving cars passes California Senate hurdle — Legislation allowing for the use of self-driving cars such as this Toyota Prius modified by Google passed the California State Senate (Getty Images / May 21, 2012) — A bill that allows for the use of self-driving cars …

More: Reuters, Business Week and Engadget

Jon Fingas / Engadget:

Samsung Chromebox gets a premature outing, $330 price tag (video) — Samsung has been almost completely silent regarding its Chromebox since its CES outing, so we were taken aback when we were tipped off that it was hiding in plain sight on TigerDirect's web store.

More: TechSpot, ITProPortal, SlashGear, The Verge, VR-Zone, Liliputing and 9to5Google

Pamela Parker / Search Engine Land:

Former Yahoo Executive Pleads Guilty To Securities Fraud Charge Related To Microsoft Deal — The Search Alliance between Yahoo and Microsoft had some unintended beneficiaries (now casualties). Yahoo's former senior director of business management, Robert Kwok, has pled guilty to conspiracy …

More: Agence France Presse, Reuters, Associated Press and U.S. Securities …

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