Facebook IPO Investor Sues Nasdaq Over First Day Trading Delays

Posted on May 23 2012 - 5:12am by Editorial Staff

Facebook while starting the first day of trading experienced delays due to the glitches and intense demand that accompanied social network’s initial public offering listing over on which Nasdaq chief executive Robert Greifeld on Sunday acknowledged design problems with Nasdaq’s technology.

What an interesting piece coming up is that a Maryland-based investor Phillip Goldberg sued the Nasdaq stock exchange over mishandling of the Facebook IPO on May 18, strongly urging that because of Nasdaq glitch it leads to investors lost money. Goldberg’s complaint alleges that Nasdaq was negligent because it delayed trades and failed to cancel customer orders as requested.

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