Reuters reports that Nasdaq OMX Group on Friday said it will
file a $62 million compensation plan for firms that lost money in the bungled
Facebook initial public offering in May.
The fund is $22 million larger than the original fund proposed in June,
Nasdaq said. All accommodations will be paid in cash, a departure from the prior
plan in which Nasdaq would have partially compensated firms through trading
credits.
The compensation plan will be filed with the Securities and
Exchange Commission, Nasdaq said, adding that it expects all payouts will occur
within six months….
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