Kraft Stock Trades Canceled After Market Glitch

Law360, New York (October 4, 2012, 2:23 PM EDT) -- The nation's largest exchanges were forced to cancel trades in Kraft Foods Group Inc. on Wednesday after a glitch caused the company's stock price to skyrocket, the latest snafu to rattle electronic markets and put federal regulators on high alert.

An unknown glitch caused Kraft stock to spike in the first minute of trading Wednesday morning on high trading volume, sending it up more than 25 percent. Nasdaq and the New York Stock Exchange later canceled trades of Kraft stock that were executed during the first...
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