Facebook Market Makers Claim Huge Losses From Botched IPO - Spokane, North Idaho News & Weather KHQ.com

Facebook Market Makers Claim Huge Losses From Botched IPO

May 24 (Reuters) - Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100 million, as they and other traders continue to deal with thousands of problems with customer orders.

A technical glitch delayed the social networking company's market debut by 30 minutes on Friday and many client orders were delayed, giving some investors and traders significant losses as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers. click here to read more

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    COEUR D'ALENE, Idaho - Ashley Bales says her daughter came home from school one day and told her about classmates at Woodland Middle School selling something she was concerned with, Zipfizz. "With my daughter having a preexisting health conditions it got me concerned for other kids in the same position to be being sold that without their parents having knowledge of it," Bales said.

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    LIBERTY LAKE, Wash. - A suspect from a fatal hit-and-run crash in Liberty Lake last Thursday has been arrested. After the suspect vehicle was towed to the Liberty Lake Police Department, a search warrant was executed with the assistance of Washington State Patrol. Based on evidence collected, police developed probable cause to arrest 21-year-old Pavel Kanyushkin.

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