Facebook Trades Halted as Social Network Giant Readies IPO

As Facebook readies for an initial public offering (IPO), the social networking giant’s lawyers have halted the trading process for shares of the company.

Facebook’s law firm Fenwick & West halted the clearance of trades for Facebook shares on the secondary market, according to people with knowledge of the matter.

Although trades may still transpire on the secondary markets, the firm will not officially sign-off on any transfers at this juncture.

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Highly Cited: Facebook Trades Are Said to Be Halted for Three Days This Week‎ BusinessWeek
Blog: Facebook to halt trading shares for three days (rumor)‎ ZDNet (blog)
As IPO Looms, Facebook Halts Clearing of Trades‎ New York Times
Bizjournals.com – Bloomberg
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