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Tuesday, July 29, 2014
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Published: Tuesday, 3/26/2013

Nasdaq to pay $62M for Facebook IPO glitches

BLADE NEWS SERVICES

NEW YORK — The Securities and Exchange Commission said Monday that it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook’s initial public offering last year. The Nasdaq had said in June that it would pay $40 million but later increased the amount to $62 million.

Facebook went public May 18 amid great fanfare, but computer glitches at the Nasdaq delayed the start of trading and threw the debut into chaos.



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