Facebook is sued after stock plunge

A shareholder of Facebook Inc on Friday filed the first of what could be many lawsuits against the social media company and Chief Executive Mark Zuckerberg following a 19 percent one-day plunge in Facebook’s share price.

The complaint filed by James Kacouris accused Facebook and Zuckerberg of violating federal securities laws, and seeks class-action status and unspecified damages.

Reporting by Jonathan Stempel in New York; Editing by Susan Thomas