• Investors claimed company misled them on projections
• Plaintiffs asked federal court to approve settlement
Facebook Inc. agreed to pay $35 million to settle claims that its officers and directors misled investors in the company’s 2012 initial public offering.
Facebook didn’t admit wrongdoing as part of the settlement, which was made public in a court filing Monday. The lead plaintiffs in the class-action lawsuit -- public pensions for Arkansas teachers and for workers in Fresno, California -- asked U.S. District Judge Robert Sweet in Manhattan to approve the accord.
Investors sued the social media network in the wake ...
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