The legal hits keep coming for Nasdaq as a result of its technical issues with Facebook’s initial public offering, as Knight Capital Group CEO Tom Joyce told analysts on a conference call that the trading firm continued to weigh its legal options.
The Wall Street Journal’s Deal Journal blog reported that Knight saw its second-quarter earnings plummet 81 percent, and its share price drop 23 cents, due to Nasdaq’s issues with the social network’s IPO.
Joyce said on the call that Nasdaq had yet to file its plan to pay back affected trading firms and investors with regulators, adding, as reported by Deal Journal:
Once it’s filed, we will carefully review details of the plan.
Readers: Will Facebook and Nasdaq be able to fight through the wave of lawsuits related to the former’s IPO?