Facebook Points Finger At Nasdaq For Botched IPO

Law360, New York (June 15, 2012, 5:28 PM EDT) -- Facebook Inc. on Thursday pinned blame for its now-infamous initial public offering on technical errors at Nasdaq, according to a court filing that sought to consolidate scores of class action suits over the IPO in New York federal court.

The social media giant asked the U.S. Judicial Panel on Multidistrict Litigation to consolidate all suits over the May 18 IPO in the Southern District of New York. The hotly anticipated event was disrupted by a technical snafu at Nasdaq and quickly shrouded in controversy, with angry...
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