Sheryl Sandberg, chief operating officer of Facebook, was cited in a lawsuit against the social network.
As Facebook stock rose to its initial public offering price last week, the social network's chief operating officer Sheryl Sandberg sold off 2.4 million shares totaling $91 million, according to a report.
Sandberg, a Facebook executive and author of the book "Lean In", sold the almost 2.4 million shares last week according to a regulatory filing, CNN reported. Although the shares were sold in a "pre-arranged trading plan" -- meaning she had no control over the time of sale -- it seems as if Sandberg managed to benefit from its timing. Facebook stock rose to its initial public offering price last week, something that hadn't happened since the IPO in May 2012.