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The severe Facebook revenue revisions that sent investors running

In the convoluted case of the botched Facebook IPO, the story goes that the social network’s underwriters, with guidance from a Facebook executive, reduced their 2012 earnings estimates, shared that material information with a few, preferred investors, and let institutional and retail investors take the hit as Facebook’s stock value tanked.

Aereo says people have a legal right to rabbit ears and DVRs, countersues the big TV networks

Aereo, the New York startup that is building a new system for streaming and recoding live TV, is countersuing the big TV networks that filed a lawsuit against it at the beginning of this month. The company, which is backed by local investors like First Round Capital and Barry Diller’s IAC, says that the courts have already ruled in favor of their technology, just not in this innovative new form.

Bankrupt Bitcoin exchange Tradehill suing red hot payment startup Dwolla for $2M

One of the reasons that small startup are loathe to announce big funding rounds is that plaintifs and patent trolls always come out of the woodwork. Payment startup Dwolla, which recently closed a $5 million round of funding led by Union Square Ventures, is now defending itself against a $2 million lawsuit from defunct Bitcoin exchange Tradehill, as first reported yesterday by Betabeat.

LCD display makers to pay $553M in price-fixing conspiracy case

Seven major LCD display makers have agreed to pay more than $553 million for illegally conspiring to fix prices of thin film transistor (LFT) LCD panels used in television, computer and laptop screens. Samsung Electronics, Sharp and Chimei Innolux are paying the largest portion of the proposed multi-state antitrust settlement, which still requires court approval.