Reuters: Most Read Articles: SEC approves plan for lost Facebook IPO money

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SEC approves plan for lost Facebook IPO money Mar 25th 2013, 13:16 Tweet Share this Email Print Related News Ex-Oregon governor candidate charged in Facebook IPO fraud Tue, Mar 19 2013 News Corp gives publishing company $2.6 billion in cash Fri, Mar 8 2013 Facebook puts focus on photos in new look; may boost ads Thu, Mar 7 2013 UPDATE 3-Nasdaq, SharesPost to form market for private companies Wed, Mar 6 2013 Groupon fires CEO, Mason admits "failure" in candid memo Thu, Feb 28 2013 Analysis & Opinion Should Congress create a national health-care exchange? Related Topics Investing and Taxes Simplified » Tech » Facebook » A man walks past a sign welcoming Facebook to the NASDAQ Marketsite in New York May 18, 2012. Credit: Reuters/Brendan McDermid Mon Mar 25, 2013 9:16am EDT (Reuters) - Regulators on Monday approved a plan to compensate market makers who lost money in a botched Facebook Inc public offering in May on the Nasdaq exchange. Nasdaq, a unit of Nasdaq OMX Group Inc, has proposed a revised $62 million settlement to those brokerages that lost money. The decision from the U.S. Securities and Exchange Commission was in response to a series of high-profile glitches last year that shook the market, including the handling of Facebook's long-anticipated initial public offering. The May 18 IPO, which raised $16 billion, was initially delayed by 30 minutes due to a technical problem at Nasdaq. The exchange then decided to get the stock trading by using a secondary system that ended up leading to delays of many clients' orders and confirmations. This cost some investors and traders big losses as the stock price dropped after an initial gain. (Reporting by Jennifer Saba in New York; Editing by Gerald E. McCormick and Lisa Von Ahn) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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