MARK Zuckerberg and leading Facebook investors cashed out millions of shares before the price dropped off a cliff, according to company filings.
It was also revealed a company executive issued a warning days before the initial public offering that Facebook's revenues were lower than expected, information that would have almost certainly reduced the opening price of the newly floated stock.
The new reports are already raising questions about whether top investors profited from the IPO at the expense of smaller buyers.
