TweakTown
Tech content trusted by users in North America and around the world
5,928 Reviews & Articles | 38,196 News Posts

NASDAQ stock exchange being charged $10 million over Facebook IPO issues

NASDAQ and SEC settle civil suit over Facebook IPO; NASDAQ paying $10 million to SEC

| Business, Financial & Legal News | Posted: May 29, 2013 10:02 pm

The NASDAQ stock exchange is being charged $10 million for its failures in the Facebook IPO disaster last year. The $10 million charge comes as part of a settlement for a civil suit brought by the Securities and Exchanges Commission over allegations that computer software errors resulted in the poor IPO.

 

TweakTown image news/3/0/30679_1_nasdaq_stock_exchange_being_charged_10_million_over_facebook_ipo_issues.jpg

 

By accepting this $10 million settlement, NASDAQ neither confirms nor denies that it had faced computer system errors last year. NASDAQ appears to have gotten off easy as the issues reportedly cost investors somewhere around $500 million. Facebook's stock sits at $23.30 after launching at an IPO price of $38.

NEWS SOURCES:Engadget.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Post a Comment about this news

Latest Tech News Posts

View More News Posts

TweakTown Web Poll

Question: Facebook's acquisition of Oculus VR will...

Improve Oculus Rift Development

Hamper Oculus Rift Development

Completely destroy Oculus Rift Development

Let's wait and see, I'm not sure

or View the Results

View More Polls

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases