Trading snafus at the Nasdaq stock market during last
Friday’s initial public offering for Facebook may
end up costing the exchange more than its reputation, the FOX Business Network
has learned.
Angry traders and investors are bombarding Nasdaq officials
with demands that the exchange make good on losses they say were incurred
during the messy execution of the Facebook IPO, where Nasdaq systems
essentially broke down and failed to execute buy and sell orders for the stock
at various times during Friday’s stock sale, according to people with first-hand knowledge of the
matter.
These people say that the demands for money could total $100
million or possibly more, but Nasdaq chief executive officer Bob Greifeld is,
at least for now, taking the position that the exchange will not cover the
losses…
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