Facebook is set to file a motion to consolidate all shareholder lawsuits against the company, and is also expected to place some blame on Nasdaq, The New York Times reported citing sources.

More than 30 cases have been filed against Facebook, mostly in New York and California.

The daily mentioned that the motion will represent that for the first time Facebook has publicly addressed the lawsuits against the performance of its highly anticipated, but ultimately lacklustre, IPO, on May 18.

NYT explained that while the document is expected to be relatively thin on detail, it will provide some perspective on Nasdaq’s role on listing day and the effect, its actions had, on the stock’s trading activity.

Facebook’s stock has tumbled in the public markets, since its debut, by more than 25 per cent below its offering price of $38 per share.

The lead underwriters, Morgan Stanley, Goldman Sachs and JPMorgan Chase, are expected to join the motion, which could be filed in the Federal District Court for the Southern District of New York today, NYT said.

Nasdaq recently agreed to set aside $40 million to cover broker losses after its system failed to properly process orders on listing day.

While many have pointed fingers at Nasdaq, others have taken aim at Facebook and its underwriters for pursuing a large offering at a high price.

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