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

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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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