Nasdaq Raises $62M Cost Estimate Over Facebook IPO Fallout

Law360, New York (August 3, 2012, 8:04 PM EDT) -- Nasdaq OMX Group Inc. anticipates that it will incur more expenses than the $62 million it agreed to pay to appease investors angry about the technical glitch that delayed Facebook Inc.’s initial public offering, it said in a regulatory filing Friday.

The New York exchange operator said it is waiting on approval from the U.S. Securities and Exchange Commission for its proposed $62 million payout. In the meantime, it has been sued by retail investors alleging negligence and several individual investors in state and local courts...
To view the full article, register now.