Nasdaq Blasts UBS Appeal Over $350M Facebook IPO Claims

Law360, New York (January 22, 2014, 10:31 PM ET) -- Nasdaq OMX Group Inc. urged the Second Circuit on Tuesday to reject UBS Securities LLC's bid to revive a $350 million arbitration over the exchange's alleged breach of an agreement for mishandling Facebook Inc.'s initial public offering.

A New York federal judge in June granted Nasdaq's request to block the arbitration proceedings, and the exchange contends that UBS has no grounds to overturn the decision on appeal and that Nasdaq will be harmed if forced to arbitrate, according to a brief filed with the Second Circuit....
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