Citigroup To File Claim With FINRA Over Nasdaq’s Facebook IPO Issues

Citigroup will attempt to recoup some of the $20 million or so it claims to have lost during Facebook’s botched initial public offering last May 18 by filing a claim for compensation from Nasdaq parent Nasdaq OMX Group, according to Dow Jones Newswires.

Under terms of the settlement offer from Nasdaq that was accepted by the Securities and Exchange Commission last month, a total of $62 million will be available to settle all claims, meaning that Citigroup and other affected firms will only receive portions of the proceeds they lost, and Dow Jones Newswires added that Citigroup is still pondering the pursuit of legal action against the exchange.

According to Dow Jones Newswires, the deadline to file claims and supporting documents with the Financial Industry Regulatory Authority is Monday.

Readers: Do you think Nasdaq’s settlement plan will be enough to appease affected firms, or will we see several court cases in the near future?

Related Stories
Mediabistro Course

Blogging: Analytics, SEO, and Content

Blogging: Analytics, SEO, and ContentWork with the former marketing director at Conde Nast Digital to improve your search rankings, integrate social, and increase traffic to your blog! Starting November 5, Jim Hopkinson will teach you how to analyze KPIs, monetize your blog through ads, sponsorships, and affiliates, and leverage your blog toward a larger platform such as publishing, speaking, or consulting. Register now!