Nasdaq Paying $10M To Settle Botched Facebook IPO
Nasdaq has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook's public stock offering last year.
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Nasdaq has agreed to pay a $10 million penalty to settle federal civil charges after regulators said its systems and decisions disrupted Facebook's public stock offering last year.
Apple needs to come down off its perch and start making nice with Wall Street, analysts said Thursday as investors hammered the company's stock. The sell-off put Apple a hair's-breadth away from losing its status as the world's most valuable company.
Facebook's beleaguered stock got an afternoon boost after hitting its lowest level ever earlier in the day.
Facebook's stock fell to $19 for the first time on Friday, meaning it has lost half its market value since the company's initial public offering in May.
The stock increased $1.40, or 4.7 percent, to close Monday at $31.41. That's still down 17 percent from Facebook's IPO price of $38. Facebook began trading on May 18.
The Nasdaq stock exchange tried to make amends with investors ensnared by technical problems on the day Facebook went public.
Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matter.
Facebook is in talks with the New York Stock Exchange to move its stock from the Nasdaq Stock Market after a botched initial public offering on Friday, according to a person familiar with the matter.
After the social network's stock fizzled on Friday in its long-awaited debut, its stock fell 11 percent on Monday, even as the rest of the stock market rallied.
Facebook stock rose more than 10 percent in the world's biggest online social network's debut as a publicly-traded company before retreating back to break-even levels.
He famously wears a hoodie, jeans and sneakers, and he was born the year Apple introduced the Macintosh. But Mark Zuckerberg is no boy-CEO.
Menlo Park-based Facebook is planning to list its shares with Nasdaq, according to media reports.
Zynga said in a filing Thursday with Securities and Exchange Commission that it expects to list its shares on the exchange under the ticker symbol "ZNGA."
Charles Schwab is recuperating after undergoing successful heart valve replacement surgery on Friday.
A gloomy outlook from Cisco Systems Inc. is shaking some investors' faith in the strength of the technology industry's recovery.
Shares of Complete Genomics slid below their offering price in their first day of trading on the Nasdaq Global Market.
