Breaking news from your editors at Fast Company, with updates all day.
Facebook Planning May IPO? AllThingsD has heard that Facebook's mighty IPO that's expected this year may be surfacing as early as in the third week of May, with a 10% stake being offered up for a target of $10 billion. That puts the company's total valuation at $100 billion. --NS
Netflix Investors File Class Action Suit. A group of vexed investors are suing Netflix for witholding key information that they believe eventually affected the company's stock price last year. They claim that Netflix executives failed to inform them of pending contract renewals for streaming video in the months before Netflix stock prices took a turn, on heels of their price change policy and failed attempts at splitting their DVD-by-mail and streaming businesses. --NS
Lovefilm To Stream ABC TV Hits. Amazon's Lovefilm video streaming service in the U.K. has signed a deal with ABC TV that will bring Desperate Housewives, Grey's Anatomy, Brothers and Sisters, and other well-loved U.S. TV series to the service in the U.K. It's the latest in a string of deals that the service has been collecting in preparation for competition from Netflix, which launched in the U.K. early this year. --NS
Customer Details Leaked In Zappos.com Hack. Hackers attacked online shoe seller Zappos.com over the weekend, accessing account information of its 24 million customers. Chief executive Tony Hseih informed staff and customers of the breach on Sunday night, writing that personal information like addresses and email addresses may have been compromised, but credit card numbers had not been accessed. --NS
--Updated 5:30 a.m. EST
[Image: Flickr user formatc1]
Friday's Fast Feed: "Angry Brides" Game Tackles Dowry In India, iPhone 5 To Run On T-Mobile?, Facebook Launches "Listen", and more!