After botched Facebook IPO, Nasdaq may settle with SEC for $5 million, says WSJ

After botched Facebook IPO, Nasdaq may settle with SEC for $5 million, says WSJ

Nasdaq is in early talks to settle with the SEC around its mismanagement of Facebook’s $16 billion IPO and the associated $500 million in investor losses last May, reports The Wall Street Journal . Details of the proposed settlement are still under wraps, but a fine of about $5 million is reportedly under consideration. The eight-month-long investigation stems from computer problems at the exchange that made it unable to send order confirmations, leaving investors unclear about the investment positions they held in the company.

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After botched Facebook IPO, Nasdaq may settle with SEC for $5 million, says WSJ

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