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Citadel to U.S. SEC: Approve Nasdaq’s Facebook Compensation Plan

Reuter – Citadel LLC urged regulators to approve Nasdaq OMX Group’s $62 million compensation plan for firms harmed by Facebook’s May 18 glitch-ridden initial public offering.

Citadel’s market making unit bought and sold over $3.8 billion worth of Facebook stock during the IPO and “incurred losses protecting retail investors from the problems caused by Nasdaq,” the firm said in a letter to the U.S Securities and Exchange Commission on Tuesday [Aug. 21].

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