NEW YORK (Reuters) – Nasdaq OMX Group Inc expects to catch costs good above a $62 million it has set aside to compensate behind firms spoiled by a glitch-ridden Facebook IPO, as it fights lawsuits and updates a systems, it pronounced in a regulatory filing on Friday.
Nasdaq pronounced it is auxiliary with an review by a U.S. Securities and Exchange Commission into a problems during a sell during a $16 billion IPO on May 18.
The New York-based sell user also pronounced that it is a theme of 8 lawsuits by investors and one by trade firms for a purpose in Facebook’s cryptic debut. Nasdaq pronounced it believes a lawsuits are “without merit.”
“Pending a fortitude of these matters, we design to catch poignant additional losses in fortifying a lawsuits, in tie with a SEC review and in implementing technical changes and calming measures that might be required or advisable,” Nasdaq pronounced in a filing.
Market makers mislaid ceiling of $500 million in a IPO, when many pre-market orders were not reliable by Nasdaq for several hours after Facebook trade began, rather than in a common milliseconds, withdrawal traders uncertain of what they owned.
UBS AG pronounced final week that it might take authorised movement opposite Nasdaq to redeem a some-more than $350 million it mislaid in a IPO.
Knight Capital Group , that on Wednesday mislaid $440 million when a possess program glitch flooded a batch marketplace with erring trades, recently reported it mislaid $35.
(Reporting By John McCrank)R Soft Web Hosting