It was reported last Friday that Facebook is planning file for its IPO sometime this week, which could be as early as Monday. Morgan Stanley was said to be 'close' to securing the lead underwriting role, beating out rival Goldman Sachs. But a recent turn of events might put Morgan Stanley's lead role in jeopardy.
According to this series of tweets from Fox Business reporter Charlie Gasparino, Facebook is upset that details of the underwriter selection process were leaked and that they will "backfire" on Morgan Stanley. When asked how he knew that Morgan Stanley leaked that the information, and not rival Goldman Sachs, Gasparino tweeted that "they don't leak when they lose."
At this rate, there's no telling whether Facebook would even go through with the deal, so we'll just have to wait for Gasparino's exclusive report on Monday.