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March 25, 2013 10:49 pm GMT
When Twitter or Dropbox go public, they should remember May 18th. The SEC has just approved NASDAQ's pay out of $62 million to investors burned when the stock exchange's trading systems broke down during Facebook's IPO last spring. Total losses for investors were pegged at $500 million by the Wall Street Journal, though. The debacle should push companies eying big IPOs to look at other exchanges.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Kk4ZJWq2wug/
NASDAQ's Glitch Cost Facebook Investors ~$500M. It Will Pay Out Just $62M. IPO Elsewhere.
When Twitter or Dropbox go public, they should remember May 18th. The SEC has just approved NASDAQ's pay out of $62 million to investors burned when the stock exchange's trading systems broke down during Facebook's IPO last spring. Total losses for investors were pegged at $500 million by the Wall Street Journal, though. The debacle should push companies eying big IPOs to look at other exchanges.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/Kk4ZJWq2wug/
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