Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Facebook Inc. (FB): ‘Want’ a New Lawsuit? Here It Comes!

Facebook Inc.Facebook Inc. (NASDAQ:FB) has been looking to improve upon its ubiquitous “Like” button, and it has recently launched a new service called Facebook Collections, where users can “collect” items they see and “want” them – where clicking on a “want” button will send users to a third-party Web site to purchase the product it sees. Several companies have latched onto this new service – including Pottery Barn, Victoria’s Secret and Neiman Marcus, among others.

But with the launch of this service in the past week, now Facebook Inc. (NASDAQ:FB) has launched a new legal battle.

CVG-SAB, a company based in Farmington Hills, Mich., has filed a lawsuit in federal court alleging that Facebook Inc. (NADAQ:FB) had stolen its “want” concept and it has caused confusion in the marketplace. The firm is suing to stop Facebook Inc. (FB) from posting the “want” button, monetary damages and a piece of any profits the social-network site has gained. CVG-SAB claims in its lawsuit that the “want” feature on Facebook Inc. (NASDAQ:FB) is very similar to the feature it runs on its own site, www.wantbutton.com, which it launched in late 2010 to allow consumers to keep a list of products they want from such companies as Tommy Bahama and Burlington Coat Factory.

CVG-SAB claims confusion because it has received many e-mails from customers asking whether the new Facebook platform had any relationship with the wantbutton.com site. As expected, Facebook Inc. (NASDAQ:FB) has no public comment on the lawsuit at this point, as the company is reviewing the merits of the claims.

Another legal battle for Facebook Inc. (NASDAQ:FB)? How would investors – like billionaire fund manager George Soros of Soros Fund Management – and non-investors react to this? How would this affect the revenue streams for Facebook Inc. (NASDAQ:FB)?

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.