It appears that Nasdaq is about to be punished for its mishandling of Facebook’s initial public offering last year. However, as The Wall Street Journal reports, it’s more of a slap on the wrist than a major penalty.
The Journal wrote (behind a paywall) that Facebook is in talks with the Securities and Exchange Commission regarding a settlement over Facebook’s IPO. Nasdaq’s settlement will include a penalty that will likely be around $5 million, which the Los Angeles Times notes is nothing compared with the $500 million lost by brokers and investors.
Nasdaq comes under scrutiny for several technological mishaps, including failing to send trade confirmations to investors, which left them unsure about whether or not they bought shares at the prices they paid.
Additionally, Nasdaq is in separate talks with those who lost grand amounts of money in Facebook’s IPO.