Shares of Facebook (Nasdaq: FB), the No. 1 social network, fell in early activity Friday, a week after their disastrous debut in their initial public offering.

Shares fell 42 cents to $32.61 from Thursday's close, valuing the Menlo Park, Calif.-based company around $70.6 billion.

Several more government officials announced probes into the controversial IPO. Rep. Scott Garrett (R-N.J.) and Rep. David Schweikart (R-Ariz.), said they would convene the U.S. House Subcommittee on Capital Markets and Government Sponsored Enterprise to examine how retail investors were treated in the $16 billion IPO.