U.S. approves Nasdaq payback plan for Facebook IPO, UBS unhappy

in 2013, Newsmakers, Reuters, School of Law, Tamar Frankel
March 25th, 2013

frankel-2010Reuters
Tamar Frankel, School of Law

Regulators approved Nasdaq OMX Group’s $62 million compensation plan for firms that lost money in Facebook Inc’s glitch-ridden market debut, a victory for the exchange operator that also set the stage for potential lawsuits from firms seeking more…

Expert quote:

“If Nasdaq had to make whole all the brokers that lost money in the IPO, it might bankrupt the exchange, which could end up driving more trading onto less transparent venues, such as dark pools.”

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