Facebook stock above $30, denial of IPO fraud, alliance against ad scams and more on this week’s news roundup
Facebook shares are back above $30 for the first time since May, closing today at $30.01 — up 6 percent from Thursday.
Earlier today Facebook filed a motion to consolidate the 40-plus class-action lawsuits against the company following its initial public offering. The filing claims the company did nothing wrong in the weeks leading up to the IPO and suggested that Nasdaq’s technical issues on the first day of trading “created market uncertainty and caused investor losses.” Earlier this week, a Texas court rejected a petition seeking documents and oral dispositions from top Facebook executives to determine if the company defrauded investors.
It’s unclear whether the post-market-close announcement that CTO Bret Taylor would leave the company will affect the company’s stock price on Monday. Shares were down slightly in after-hours trading.
In other Facebook-related news this week:
Facebook joins alliance to fight ‘bad ads’ — Facebook joined Google, Twitter and AOL in an alliance this week against ads that deliver malware, direct users to scams or try to sell counterfeit goods. The alliance will develop industry policy recommendations and best practices, as well as share information about “bad actors” who might try to advertise on a new network after being shut down by another.
App Center now available on iPad — The Facebook App Center is now available to some iPad users as part of the social network’s gradual rollout of the new dashboard. The App Center is available on the web and mobile devices to help users discover new Facebook-integrated applications.
Facebook completely open sources Ringmark — The social network announced on Thursday that its mobile browser test suite, Ringmark, is now completely open source. Facebook has also added drawing performance tests to the Ringmark repository to help game developers and others test a mobile browser’s animation speed.
GraphEffect raises $12M — Social marketing and advertising collaboration platform GraphEffect announced Wednesday that it secured $12 million in financing. The platform, which builds upon the Facebook Ads and Insights APIs, recently added a “story manager” feature to help users understand how their posts are performing and then easily turn those into promoted units. GraphEffect can also now deliver ads within News Feed and mobile devices. CEO and co-founder James Borow says the company has more features in the works, including a full page publishing tool.
AdParlor to give job offer to future winner of Facebook Hackathon — Facebook ad optimization company AdParlor has promised to make a job offer to whoever wins the Facebook Hack in Toronto on Saturday. The winner will also get a new iPad.
Facebook tests ‘share music’ feature – Some Facebook users are seeing a “share music” option in their News Feed publisher, The Next Web reports. Users can search for songs and share Spotify streaming links with friends.