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Nasdaq sets aside $31 million for ongoing Facebook IPO claims| Reuters

Apr 23, 2015    

NEW YORK (Reuters) - Nasdaq OMX Group said on Thursday it set aside $31 million for ongoing litigation arising from the bungled $16 billion initial public offering of Facebook Inc on its U.S. stock exchange in May 2012. The reserve is intended to cover the estimated amount of a settlement of class-action litigation initiated on behalf of investors in Facebook common stock on the date of its IPO, the company said in a filing related to its financial results. Facebook's first day of trading was plagued by technology problems, resulting in a delayed opening and tens of thousands of trade and canc...

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