Taken directly from Wikipedia…http://en.wikipedia.org/wiki/Formspring
Formspring has garnered some controversy, especially among teenagers, for opening the door for harassment and bullying, due to the anonymity of the entries. A fight between several students at a Harrisburg, Pennsylvania High School, which started after an argument over Formspring, received some media attention in February 2010.
On March 12, 2010, a hoax news article saying that the creators planned to reveal personal information about their users spread on Twitter and other social networking sites.
On March 22, 2010, a 17-year-old West Islip, NY High School graduate committed suicide, reportedly after dozens of insulting comments about her had been posted on Formspring in the days leading up to her act. Soon after, a local grassroots boycott of the Formspring site began.
The support section of the site instructs users facing harassment to deny anonymous questions, block unwanted users, or, in the case of a threat or crime, asks users to contact the police.