SEC To Probe Deeper Into Nasdaq's $62M Facebook IPO Plan

Law360, New York (October 30, 2012, 1:16 PM EDT) -- The U.S. Securities and Exchange Commission on Monday said it is taking more time to review a $62 million plan by Nasdaq OMX Group Inc. to compensate investors who suffered losses related to a technical glitch that delayed Facebook Inc.'s initial public offering.

The agency said further scrutiny of the “legal and policy” issues that have been brought up by Nasdaq’s plan is warranted. Facebook's hotly anticipated debut got off to a rocky start in May with Nasdaq delaying trading on the offering due to a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.