Nasdaq Boosts Facebook IPO Settlement To $62M
As expected, Nasdaq announced its plan to compensate investors affected by the technical issues that marred Facebook’s initial public offering, upping the total that it will pay out to $62 million from its previous proposal of $40 million.
As expected, Nasdaq announced its plan to compensate investors affected by the technical issues that marred Facebook’s initial public offering, upping the total that it will pay out to $62 million from its previous proposal of $40 million.
Immediately after the IPO, which was blemished by delays in order confirmations, Nasdaq had announced that it would set aside at least $13 million to make good on traders’ losses — a figure that was nowhere near acceptable, as NBC News’ Market Day pegged losses by the top four market makers in the offering — UBS, Citigroup, Knight Capital Group, and Citadel Securities — at more than $115 million.
The
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