The that Facebook executives, including Zuckerberg, CFO (chief financial officer) David Ebersman and underwriter Morgan Stanley, intentionally hid negative views of the company's revenue growth potential prior to floating.

According to the New York Times, the motion, which may be filed in the District Court for the Southern District of New York today, will provide some perspective on Nasdaq's role on the day of Facebook's IPO.

Sources familiar with the matter said that the motion will shed light on the effect the exchange's actions had on the stock's trading activity.

The IPO was riddled with technical problems, which led to a delay of 30 minutes. The problem stemmed from Nasdaq's IPO Cross, a pre-IPO auction process that the exchange put in place in 2006 that allows traders to place orders and agree on an IPO price before the stock is officially launched, which couldn't handle the trading demand.

Facebook's initial IPO was priced at $38 a share, but this leapt up to $45 in the first few hours after trading, and has since declined up to 30 percent.