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Pity Party: Nasdaq CEO, EVP To Receive Lower Bonus Payments Due To Facebook IPO Foul-Up

David Cohen — Fri, 12 Apr 2013 12:56:28 +0000

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

David Cohen — Tue, 09 Apr 2013 13:04:59 +0000

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.

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SEC Approves Nasdaq Settlement Proposal Over Facebook IPO Issues

David Cohen — Mon, 25 Mar 2013 12:49:24 +0000

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.

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Nasdaq Reportedly To Be Fined For Facebook IPO Mishandling

Justin Lafferty — Tue, 05 Feb 2013 19:49:48 +0000

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.

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Judge Designates Plaintiffs In IPO-Related Securities Cases Vs. Facebook, Nasdaq OMX Group

David Cohen — Fri, 07 Dec 2012 10:35:42 +0000

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.

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Facebook To Be Added To Nasdaq 100 Index

David Cohen — Wed, 05 Dec 2012 09:12:25 +0000

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.

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Next Up For Nasdaq 100 Index: Facebook?

David Cohen — Mon, 03 Dec 2012 13:09:07 +0000

Facebook is likely the next company in line to be added to the Nasdaq 100 Index, as CNBC pointed out that the social network is currently the company with the largest market valuation listed on Nasdaq that is not part of the index, and adding that a spot will open Dec. 12, when information-technology-services company Infosys leaves Nasdaq for the New York Stock Exchange.

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Morgan Stanley On FINRA Arbitration Claim Over Facebook IPO: Not Our Client

David Cohen — Tue, 06 Nov 2012 18:15:31 +0000

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.

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SEC To More Closely Scrutinize Nasdaq’s Compensation Plan Over Facebook IPO Issues

David Cohen — Mon, 29 Oct 2012 17:16:13 +0000

The Securities and Exchange Commission announced Monday that it will more closely examine the plan by Nasdaq to shell out $62 million to compensate firms that were affected by the technical issues that marred Facebook’s May 18 initial public offering.

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IPO-Related Lawsuits Against Facebook Consolidated, To Be Heard In New York

David Cohen — Fri, 05 Oct 2012 10:44:07 +0000

All of the lawsuits over Facebook’s bungled initial public offering are going to make a brand-new start of it in old New York, as a panel of federal judges ruled Thursday that cased filed throughout the country are to be transferred to U.S. District Judge Robert Sweet in Manhattan, according to reports.

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Nasdaq Defends Its Plan To Compensate Firms Affected By Facebook IPO Issues

David Cohen — Wed, 19 Sep 2012 15:48:17 +0000

Embattled stock exchange Nasdaq countered objections to its plan to compensate firms affected by the technical issues that marred Facebook’s initial public offering, saying in a letter to the Securities and Exchange Commission earlier this week that none of the points brought up by critics of the plan was enough for the SEC to reject it.

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Facebook Doesn’t Make Cut For Nasdaq 100 Index, But Will Be Added To Nasdaq Q-50 Index

David Cohen — Tue, 18 Sep 2012 10:09:16 +0000

Nasdaq announced that Facebook will not yet be included in its Nasdaq 100 Index, but the news was not all bad for the social network, as it will be added to the Nasdaq Q-50 Index Sept. 24, bringing it one step closer to the Nasdaq 100.

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UBS Joins Citigroup In Urging SEC To Reject Nasdaq Settlement Offer Over Facebook IPO

David Cohen — Fri, 24 Aug 2012 13:52:47 +0000

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.

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Citigroup Blasts Nasdaq’s Settlement Proposal Regarding Facebook IPO Issues

David Cohen — Thu, 23 Aug 2012 15:32:07 +0000

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.

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Citadel Securities Urges SEC To Accept Nasdaq Facebook IPO Settlement Proposal

David Cohen — Wed, 22 Aug 2012 10:30:12 +0000

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.

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