Reuters – Nasdaq OMX Group Inc. will compensate firms on Tuesday [Dec. 31] for qualifying claims related to Facebook Inc.’s botched May 2012 initial public offering, the exchange operator said in a note to traders on Friday [Dec. 27].
Nasdaq said previously it would pay up to $41.6 million in claims to market participants that lost money when a glitch in Nasdaq’s system during the IPO prevented timely order confirmations for many traders, leaving them unsure about their exposure for hours and, in some cases, for days afterwards.
