Nasdaq Allots $62M To Quell Investors' Facebook IPO Claims

Law360, New York (July 20, 2012, 10:39 PM EDT) -- The Nasdaq OMX Group Inc., which has been pilloried by investors over a technical glitch that had delayed Facebook Inc.'s May 18 initial public offering, said Thursday that it would boost to $62 million its allotment for resolving investors' claims.

After facing criticism from NYSE Euronext, among others, over its initial plan, Nasdaq said it would increase from $40 million to $62 million its proposed payout to investors and modify its initial plan to pay accommodations in cash instead of in trading credits as proposed earlier....
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