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NASDAQ to pay out just $62m to investors who lost an estimated $500m in Facebook IPO

NASDAQ to pay out $62 million in compensation to affected investors involved in Facebook IPO

| Business, Financial & Legal News | Posted: Mar 25, 2013 8:34 pm

We all remember that fateful day last year when Facebook had its IPO on the NASDAQ stock exchange. I'm sure most of us recall some of the difficulties associated with the IPO and how the price plummeted from its list price of $38. The estimated loss to investors due to the glitches suffered by the NASDAQ stock exchange is $500 million.

 

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NASDAQ will be paying out just $62 million to those affected. The United States Securities and Exchanges Commission (SEC) have agreed with this payout. Investors who had orders not completed or who were not correctly notified of buys or sells successfully completed are among the eligible.

NEWS SOURCES:Techcrunch.com

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