Morgan Stanley To Make Price Adjustments Over On Facebook Trades

Posted on May 24 2012 - 6:58am by Editorial Staff

While a lot of busting time the social giant sees in recent time over on its IPO, it can now safely be said to rank among the “sloppiest” tech offering. Reuters has obtained an internal memo reporting that Morgan Stanley is ready to make price adjustments for retail customers if they paid too much during Facebook’s debut as a public company last Friday.

“All orders are currently being reviewed for best execution pricing,” the memo said. “We expect there will be a number of price adjustments. The largest adjustments will be processed first over the next several days and the remaining adjustments will be completed as quickly and as thoroughly as possible.”

A “very limited number of orders” are still pending, but Morgan Stanley told its more than 17,000 brokers that it expects to have remaining orders resolved and booked Wednesday.

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