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NASDAQ Might Be Sued Over Facebook IPO

jfruh (300774) writes | more than 2 years ago

Businesses 0

jfruh writes "On the day of the Facebook IPO, the NASDAQ's trading systems sufferend multiple failures and couldn't confirm buy orders for several hours. Big banks buying shares for their funds and customers placed mutliple orders as a result, and bought more Facebook stock than they intended to as a result. NASDAQ has agreed to set up a fund to compensate them for their losses, but apparently this isn't enough for Swiss bank UBS, which is threatening legal action."
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