The Securities and Exchange Commission on Monday
approved a 62-million-dollar compensation payment by the Nasdaq stock
exchange for glitches which hampered the Facebook initial public
offering last May, Nasdaq said Monday.
The glitch prevented trades in the fevered IPO from being executed and could have cost brokerages as much as 500 million dollars, according to the Wall Street Journal, which reported that many companies will proceed with further legal action against the stock exchange.
The report said Swiss banking giant UBS, which alone claimed to have lost 356 million dollars due to the glitch, planned to recover all its losses from the incident and had filed a demand for arbitration.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
|Customer Service||Policy||Advertise||Site Tools|
|HispanicBusiness Services||Editorial Guidelines||Ad Specifications||Magazine Archive|
|List Rental Agreement||About Us||Media Kits||Post Your Event|
|HireDiversity Job Search||Editorial Calendar||Research|
© 2014 HispanicBusiness Inc. All Rights Reserved.