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Nasdaq Sets Aside $31m For Aggrieved Facebook Investors

The stock exchange behind Facebook’s calamitous debut in 2012 has set aside tens of millions of dollars to compensate aggrieved investors. Nasdaq revealed yesterday that it had created a $31 million (GBP20.7 million) pool to settle class action litigation arising from Facebook’s $104 billion float. The social network’s debut in May 2012 was hampered by a series of technical issues with the Nasdaq platform. The exchange would later be fined $10 million by the US Securities and Exchange Commission (SEC) for “serious and pervasive violations of fundamental rules”.

Read the whole story at The Times »

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