Facebook could potentially lose $151 billion in market capitalization when trading opens on the New York Stock Exchange on Thursday, 26 July.
He accused Facebook - particularly Chief Executive Officer Mark Zuckerberg and Chief Financial Officer David Wehner - of nurturing misleading statements and failing to disclose its slowing revenue growth.
Kacouris said the marketplace was "shocked" when "the truth" began to emerge on Wednesday from the Menlo Park, California-based company.
A Facebook spokesman declined to comment.
Earlier this year, Facebook was embroiled in the Cambridge Analytica scandal, and took big steps to make the platform more personal and secure immediately after.
There's a $70000 Bounty on This Skilled Dog's Head
Her usual handler Jose Rojas told Colombian News Agency RCN Sombra's "sense of smell is far beyond that of other dogs ". This is not the first time a bounty is offered to get rid of anyone obstructing the drugs gang activities.
Facebook had the largest-ever loss of value in one day for a U.S. traded company. This wiped as much as $150 billion from the company's market value.
The more than $15 billion in net worth that Zuckerberg lost on Thursday is roughly equal to the wealth of the world's 81st-richest person, now Japanese businessman Takemitsu Takizaki, according to Forbes real-time data.
This allowed Buffer to rank third among the world's billionaires, while Zuckerberg ends up in the sixth spot.
Shares in Alphabet closed up 0.7%, while those in Apple fell 0.3% and Netflix closed barely higher.
Founder Mark Zuckerberg, who has a 13 per cent stake in Facebook, saw his fortune dropped by more than $US12 billion ($A16 billion) in less than 24 hours, to around $74 billion ($A100 billion). The company was worth over 630 billion dollars the previous day.
As expected, most investors grumbled, though some were happy especially since the stock surged.