Nasdaq ready to compensate Facebook IPO investors
It looks like Nasdaq has a plan to compensate Facebook investors for losses incurred as a result of technical glitches that dogged the company's IPO.
The stock exchange plans to submit plans tomorrow with the Securities and Exchange Commission that will outline its first steps to makes up for losses suffered by banks and trading firms, sources familiar with the matter told The Wall Street Journal (subscription required). Collective losses have been estimated by some to exceed $100 million.
CNET has contacted Nasdaq for comment and will update this report when we learn more.
Nasdaq officials had previously expressed regret … Read more