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NASDAQ Fined $10 Million For Botched Facebook IPO

NASDAQ Fined $10 Million For Botched Facebook IPO

By Zach Walton May 29, 2013

To say the Facebook IPO was a disaster might be a bit of an understatement. A few days after the social network went public, reports emerged that a technical issue prevented trading and many investors lost money as the stock’s …

SEC Investigates Nasdaq and NYSE SEC Investigates Nasdaq and NYSE

The Securities and Exchange Commission (SEC) isn’t buying that Nasdaq’s much publicized computer glitch on the opening day of Facebook’s IPO was the root cause for all the confusion. In fact, they have seen a couple other cases of so …

Nasdaq Glitch Blamed for Botched Facebook's IPO Nasdaq Glitch Blamed for Botched Facebook's IPO

As we reported on Friday, Nasdaq is getting the blame for Facebook’s botched IPO launch and the subsequent poor trading performance in the days that followed. The remarks come from a court filing by Facebook and Morgan Stanley who seek …

Groupon Gets an Upgrade to Overweight Groupon Gets an Upgrade to Overweight
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Groupon shares are on the rise this morning as after Morgan Stanley analyst, Scott Devitt, raised the company’s status from Equal Weight to Overweight. Despite closing just above $10 per share on Friday, early morning trading reached as high as …

Why Facebook Isn’t a Bad Investment for Everyone Why Facebook Isn’t a Bad Investment for Everyone

Back on the 12th of June, Harvard Business Review (HBR) published an article explaining how so many investors were enticed by Facebook’s public offering and why it wasn’t a good idea, according to their principals of investment, to jump on …

Facebook Wants to Consolidate IPO Lawsuits Facebook Wants to Consolidate IPO Lawsuits

The one month anniversary of Facebook’s much anticipated initial public offering is close at hand, and the social networking giant has yet to address investor concern or the countless lawsuits which have been filed against the Nasdaq, Mark Zuckerberg, or …

UBS Lost $350 Million on Facebook IPO Trades UBS Lost $350 Million on Facebook IPO Trades
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Earlier this week we reported that the Nasdaq stock exchange had set aside $40 million to compensate investors who were hurt financially by the computer glitch that plagued Facebook trading early on during the IPO launch. You might recall, the …

Noteworthy Videos
Facebook Stock Rises after ComScore Finds Ads Work Facebook Stock Rises after ComScore Finds Ads Work
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Yesterday, ComScore released details of their latest study on Facebook advertising and the news is pretty good. Despite many claims and self-report surveys declaring the ads simply don’t work, research suggests repeated exposure to branded messages, does in fact, impact …

Nasdaq Scrutinized for Facebook Compensation Nasdaq Scrutinized for Facebook Compensation

Yesterday, Nasdaq announced it was finally making some reparations to investors who were effected by the mysterious computer glitch that plagued Facebook trading the morning of the IPO launch. You might recall, they set aside over $40 million in order …

Facebook Stock on the Rise to over $27 Facebook Stock on the Rise to over $27
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Good news all the way around for Facebook investors. Despite sluggish trading and constantly declining stock prices, today’s trading took a turn for the better. While trading started out at a record low $25.52, it actually jumped up to over …

Nasdaq Hopes to Appease Facebook Investors Nasdaq Hopes to Appease Facebook Investors

The Nasdaq OMX Group hopes to make up for that small-but-disastrous glitch on the day of Facebook’s initial public offering by compensating affected investors who were trying to get in on the early trading. According to the Wall Street Journal, …

Facebook Might Switch to NYSE after Nasdaq Failure Facebook Might Switch to NYSE after Nasdaq Failure

Facebook stock closed at $31.99 per share yesterday, and some speculate that there truly is no limit on how low it can go. One of several factors that might’ve contributed to the sensational IPO’s less than stellar performance was an …

Facebook Stock Closes at $32 on Wednesday Facebook Stock Closes at $32 on Wednesday
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Facebook stock is once again closing in the $30 price range at $31.99 as the Nasdaq market closed at 4PM today. It opened at $31.37, rose as high as $32.50, and dipped as low as $31.36. So not a lot …

Morgan Stanley to Adjust Prices for Retail Customers Morgan Stanley to Adjust Prices for Retail Customers

Good news for early Facebook IPO investors who may have been a victim of Nasdaq’s computer communication glitch, Morgan Stanley is reviewing all of the trades that went through on that day. As you remember, trading was delayed by a …

Facebook IPO Scandal: Was the Nasdaq Glitch Real? Facebook IPO Scandal: Was the Nasdaq Glitch Real?
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Perhaps we are all overreacting to the Facebook/Nasdaq/Morgan Stanley issue by calling it a scandal. But experience has taught many of us a valuable lesson; if it looks like a fish, swims like a fish, and smells like a fish, …

Investor Sues Nasdaq Over Facebook IPO Investor Sues Nasdaq Over Facebook IPO
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Maryland Facebook investor Phillip Goldberg has just filed a complaint against Nasdaq OMX Group Inc. regarding “badly mishandled” trades upon the social network’s IPO. Goldberg aims to represent a group of investors who saw orders not processed correctly, which prompted …

Facebook IPO Revised Revenue Report Scandal Facebook IPO Revised Revenue Report Scandal
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Probably not surprising to most of you, big banks, and underwriters of the Facebook IPO deal, had inside information on the company’s inevitably shrinking revenues before trading even began. As we reported yesterday, Morgan Stanley’s financial forecasters issued a revised …