Nasdaq Keeps Communication To a Minimum Post-Facebook IPO

Nasdaq came under fire for botching the Facebook IPO, but still hasn’t felt the need to respond with a strong and unified crisis response, a Reuters article says. The story offers a few reasons:

  1. Lawsuits.
  2. “[M]any people who deal with Nasdaq regularly, or are familiar with how it has handled its customer relationships, say even if there were no legal issues, the silence and lack of contrition expressed to market makers is par for the course.”
  3. The only other alternative besides the Nasdaq is the New York Stock Exchange.

The Nasdaq hosted a call in which CEO Bob Greifeld said the company was “humbly embarrassed,” but didn’t apologize. Greifeld previously received support from Nasdaq’s chairman H. Furlong Baldwin.

PR experts from Makovsky & Co. and Levick Strategic Communications say a clearer explanation of what happened is in order. The Nasdaq didn’t even comment for the Reuters article.

Given the three reasons outlined, do you agree with these experts? Share your thoughts in the comments or @PRNewser.