SEC approves Nasdaq's Facebook IPO payment plan

The Associated Press

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. Technical problems kept many investors from buying shares that morning, selling them later in the day or even from knowing whether their orders went through. Some said they were left holding shares they didn't want.

Facebook's stock originally priced at $38 and closed that first day at $38.23 after going as high as $45. The lackluster close disappointed investors who had hoped for a first-day pop. Nasdaq has said that it was embarrassed by the glitches, but that they didn't contribute to the underwhelming returns.

Shares of Menlo Park, Calif.-based Facebook Inc. fell 39 cents to $25.34 in Monday morning trading. The stock has not hit its IPO price since the first day of trading.
http://www.bellinghamherald.com/2013/03/25/2937006/sec-approves-nas...

Views: 124

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Burbia on March 25, 2013 at 11:41am
"For the purposes of this study, “corporate welfare” is defined as any federal spending program that provides payments or unique benefits and advantages to specific companies or industries.

Supporters of corporate welfare programs often justify them as remedying some sort of market failure. Often the market failures on which the programs are predicated are either overblown or don’t exist. Yet the federal government continues to subsidize some of the biggest companies in America."
http://www.cato.org/publications/policy-analysis/corporate-welfare-...

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted blog posts
10 hours ago
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I was wrong Emperor Penguins are big and powerful but still alive but this,  A size…"
13 hours ago
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"Cheeki kea here's another that they say there have been modern sightings of!  The name of…"
13 hours ago
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea, did you ever hear of the giant Imperial Penguins? They were about 6 feet tall and could…"
13 hours ago
Doc Vega commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"cheeki kea I do not think these giant two legged birds would need to have a bad attitude as long as…"
13 hours ago
Olivia Brooks updated their profile
19 hours ago
John Miller was featured
22 hours ago
tjdavis's 2 blog posts were featured
22 hours ago
Zfort Group's blog post was featured
22 hours ago
Doc Vega's 6 blog posts were featured
22 hours ago
Burbia commented on tjdavis's video
Thumbnail

“What’s His Motive?” - Inside The Mind of George Soros

"Trump calls for George Soros and son to face federal…"
yesterday
Burbia commented on tjdavis's photo
yesterday
Profile IconSeeta Sathe and Olivia Brooks joined 12160 Social Network
yesterday
tjdavis posted a video

Mossad, Terrifying CIA Technology, Blackwater & The Most Secret CIA Unit | John Kiriakou

John Kiriakou served 15 years in the CIA as a Case Officer (Spy) and as CIA's Head of Counterterrorism Operations in Pakistan where he lead the raid that cap...
yesterday
tjdavis posted a photo
yesterday
tjdavis posted a video

A Critique of the Tavistock Institute - The Mother Of All Conspiracy Theories

An examination of the Tavistock Institute, a theory which seeks to explain how Western societies have been brainwashed by a cabal of social scientists and th...
Sunday
tjdavis posted a video

“What’s His Motive?” - Inside The Mind of George Soros

In this short clip, Patrick Bet-David, Sebastian Gorka Adam Sosnick, and Tom Ellsworth George Soros and what motivates him to do the things he does. FaceTime...
Aug 27
Doc Vega posted blog posts
Aug 27
cheeki kea favorited Bob of the Family Renner's photo
Aug 26
cheeki kea commented on Doc Vega's blog post Plausible Explanation Behind Recent Cryptid Sightings in the Wild!
"If you're ever out there Doc V and notice giant two legged birds roaming the wilderness be…"
Aug 26

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted