Facebook is being sued by investors over its stock flotation, two lawsuits were filed on Wednesday.

The lawsuit alleges that the defendants are accused of concealing Facebook’s revenue generation forecasts during the IPO investors roadshow, which showed “a severe and pronounced reduction” . This action allowed a few investors in the know to sell their Facebook shares before the price fell, while others who were not in the know saw their shares lose more than a third of its value within a few days.

“Some insiders and investors were preferred over others,” The Telegraph quoted Darren Robbins, a lawyer for one set of retail investors who have filed a suit in a New York court on Wednesday as saying .”Everyone made money in this process, but it was the ordinary main street investor who was left holding the bag.”

Some of Amerca’s biggest banks and investment houses such as Goldman Sachs and Morgan Stanley are accused of not letting potential investors know that the banks had lowered their revenue estimates for the Social Networking site, in  advance of the share flotation.

A few Investors have claimed to have lost as much as $2.5bn (£1.6bn) from buying Facebook shares.