Nasdaq Loses Bid To Take Facebook IPO Suit To 2nd Circ.

Law360, Los Angeles (February 14, 2014, 7:09 PM EST) -- A New York federal judge refused Friday to allow Nasdaq OMX Group Inc. to immediately appeal portions of his ruling on its bid to dismiss a class action over its role in Facebook Inc.'s initial public offering, saying the suit is not an exceptional case that presents controlling questions of law.

U.S. District Judge Robert W. Sweet denied Nasdaq's motion for interlocutory appeal, finding the exchange failed to satisfy the high threshold required for certification of such an appeal. Nasdaq filed its motion in response to...
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