Tag Archives: NASDAQ

SEC charging Nasdaq $10 million in civil suit settlement over Facebook’s IPO issues

Posted on by
SEC charing Nasdaq $10 million in civil suit settlement over Facebook's botched IPO

When Facebook became a public company in the summer of 2012, its initial public offering (IPO) didn't go quite as well as the company expected. It went poorly enough that the US Securities and Exchange Commission took action against the exchange which handled Facebook's IPO: Nasdaq. A civil suit filed against the exchange, alleging computer software errors that resulted in a lackluster IPO, was settled today -- the exchange will pay $10 million to settle the suit. The settlement, of course, doesn't mean that Nasdaq is confirming or denying the alleged issues its computer system incurred last year; said issues allegedly cost investors in the ballpark of $500 million. Probably best to un-friend Nasdaq now before things get awkward.

[Image credit: bfishadow]

Filed under: ,

Comments

Source: Reuters

U.S. Stock Markets will Open Today Again

Posted on by

Hurricane Sandy brought historic damage to New York and it will take months to clean up the mess. New Yorkers will try as much as possible to get back to normal business today. The Wall street will...

Facebook Shares open below IPO Price [Update]

Posted on by

Friday was a crazy day on Wall Street. Facebook went public and the NASDAQ trading system failed. Lot's of professional traders could not get their orders in to benefit from the pop. FB shares went...

Facebook IPO Trading delayed (update)

Posted on by

Facebook shares are trading later than expected.  It is 20 minutes after 11 am and traders are getting anxious. Twitter is lighting up with tweets wondering what the delay means. Are NASDAQ...