Law360, New York (June 05, 2012, 10:19 PM ET) -- Securities regulators on Tuesday reportedly opened an investigation seeking to determine how Nasdaq OMX Group Inc. made $10.7 million during Facebook Inc.'s troubled initial public offering, as the exchange prepares to compensate investors who lost money because of its technical glitches.
Nasdaq has earmarked about $13 million for investors, including the $10.7 million the exchange allegedly made trading so-called orphan shares during Facebook's IPO. The SEC is investigating the profit, trying to determine whether the exchange processed its orders ahead of other investors', according to the...
SEC Probes Nasdaq's $11M Profit From Facebook IPO
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