Facebook Trades Said to Be Halted for Three Days This Week
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Shareholders of Facebook Inc., the social-networking site preparing an initial public offering, are facing a three-day suspension of trading on secondary markets this week, people with knowledge of the matter said.
While buy and sell orders can be made, transactions won’t be processed by Facebook’s attorneys at Fenwick & West LLC from today until Jan. 27, said the people, who declined to be named because details on secondary transactions are kept private. The halt pertains to trading of Facebook shares only, one of the people said.