A group of investors have launched a class action lawsuit against Facebook and several banks including Morgan Stanley.

The suit filed in a Manhattan Court on Wednesday morning say they've lost $2.5-billion since the social network's initial public offering last week.

They allege that several underwriters, namely Morgan Stanley shared a negative assessment with some of their clients ahead of the $16-billion IPO, but not the general public.

The defendants, who also include Facebook Chief Executive Officer Mark Zuckerberg, were accused of hiding from investors during the IPO marketing process “a severe and pronounced reduction” in revenue growth forecasts, resulting from increased use of its app or website through mobile devices.

The lawsuit comes a day after a similar lawsuit was filed by a different investor in a California state court.

Facebook shares fell 18.4 per cent from their $38 IPO price in the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9-billion.