Nasdaq Shelling Out $41.6 Million For Botched Facebook Ipo

Ben Hider | Getty Images The exterior facade of the NASDAQ market on the first day of Facebook trading on May 18, 2012. Although Nasdaq said a total of $41.6 million in claims qualified, market makers estimated they lost $500 million collectively. Firms that qualified for compensation had until Dec. 23 to agree not to sue Nasdaq over the IPO in order to be eligible for a one-time voluntary payout. In August, a software bug paralyzed thousands of Nasdaq-listed stocks marketwide for three hours. That happened just days after a technical problem at Goldman Sachs sent a flood of erroneous orders to the U.S.
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