Nasdaq CEO Robert Greifeld and Executive Vice President of Global Technology Solutions Anna Ewing saw their 2012 annual bonus payments slashed due to the stock exchange’s mishandling of Facebook’s initial public offering last May 18.
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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.
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.
U.S. District Judge Robert Sweet in Manhattan named the lead plaintiffs Thursday in securities lawsuits against Facebook and against Nasdaq parent Nasdaq OMX Group related to the social network’s bungled May 18 initial public offering.
The speculation of earlier this week was confirmed: Facebook will be added to the Nasdaq 100 Index next week, as Nasdaq parent Nasdaq OMX Group announced that the social network’s stock will replace Infosys on the index before the start of trading Dec. 12.
Investor Uma Swaminathan of East Brunswick, N.J., filed a claim with the arbitration unit of the Financial Industry Regulatory Authority in July, regarding Morgan Stanley’s role in Facebook’s botched initial public offering. However, there’s one problem: Morgan Stanley said Swaminathan was not one of its customers.
Add UBS to the list of financial firms that are unhappy with the $62 million settlement proposal by Nasdaq parent Nasdaq OMX Group to compensate firms affected by the technical issues that marred Facebook’s initial public offering, as it followed the lead of Citigroup in sending a long letter to the Securities and Exchange Commission.
While Citadel Securities may have been content with the $62 million settlement proposal by Nasdaq parent Nasdaq OMX Group to compensate firms affected by the technical issues that marred Facebook’s initial public offering, the reaction from Citigroup was quite the opposite.
The $62 million settlement proposal by Nasdaq parent Nasdaq OMX Group to compensate firms affected by the technical issues that marred Facebook’s initial public offering has at least one strong backer in Chicago-based hedge fund Citadel Securities.
Nasdaq CEO Robert Greifeld defended the stock exchange’s plan to compensate firms affected by the technical issues that marred Facebook’s initial public offering during parent company Nasdaq OMX Group’s second-quarter earnings call Wednesday morning.
