The Nasdaq OMX Group is taking its first step to quell investor anger over the flawed debut of Facebook shares last month — pledging $40 million to cover broker losses — but some customers and competitors quickly raised objections.
The stock market operator said on Wednesday that it would set aside $13.7 million in cash and pay out the rest in trading rebates to settle disputes by investors arising from technical malfunctions in Facebook’s initial public offering on May 18, the biggest technology I.P.O. ever.
‘Enforcement 40’ for 2020
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