Strapworks - 8:28 pm on May 23, 2012 (gmt 0)
From what I have heard it doesn't actually break any rules because of how the SEC has it set up.
But, morally, they legitimately held back information so as to sell more stock at a higher price. They shared the information with those they didn't want to piss off and loose as customers, everyone else was just a nice commission.
Common Sense says the only reason Facebook got the investors they did in the first place was because those companies knew they would eventually screw someone else for a profit. IPO FTW!