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.
Not too many people can handle a tax bill of more than $1 billion, but Facebook Co-Founder and CEO Mark Zuckerberg is a member of that exclusive club, and CNN Money reported that his total tab will likely end up at around $1.1 billion.
The Securities and Exchange Commission Monday approved a revised $62 million settlement by Nasdaq parent Nasdaq OMX Group over technical issues that marred Facebook’s May 18 initial public offering, Reuters reported.
Craig Berkman, a finance manager in Florida and former Oregon gubernatorial candidate, was hit with fraud charges by the Securities and Exchange Commission’s enforcement division over what regulators called a Ponzi-like scheme that promised but never delivered pre-initial public offering shares of Facebook and other companies.
Another lawsuit related to Facebook’s bungled initial public offering bit the dust, as a New York state appeals court Tuesday dismissed a suit by Felix Investments against online marketplace SecondMarket.
How much federal and state income tax did Facebook pay in 2012? If you guessed, “zero,” you were correct, and if you guessed that the social network received $429 million in net tax refunds, you get extra credit.
While the news from Wall Street earlier this week may not have been good for Facebook, other parts of downtown Manhattan were kind to the social network Wednesday, as U.S. District Judge Robert Sweet dismissed four shareholder lawsuits against the company related to its troubled May 18 initial public offering.
Ever wondered if you have what it takes to work for Facebook (even if you’re not applying for a job as the company’s global head of diversity)? Some members from Facebook’s recruiting team went on Reddit for an AMA (Ask Me Anything) session, answering questions about what it’s like to work at Facebook and what kinds of applicants they look for.
It appears that Nasdaq is about to be punished for its mishandling of Facebook’s initial public offering last year. However, as The Wall Street Journal reports, it’s more of a slap on the wrist than a major penalty.