Nasdaq to Earmark $13 Million for Bad Trades Related to Facebook

 By 
Todd Wasserman
 on 
Nasdaq to Earmark $13 Million for Bad Trades Related to Facebook
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The offer, reported by The Wall Street Journal, was proffered to address brokers who covered losses for retail and institutional investors who lost money because of the glitch.

Reps from Nasdaq could not be reached for comment. In a call with reporters on Sunday, Eric Noll, head of transaction services for Nasdaq OMX, said about 30 million shares were affected. However, the article notes that the actual amount lost may be closer to $100 million.

Facebook's IPO on Friday was delayed by about 30 minutes because of a problem with Nasdaq's system. The company's stock opened at $42, but closed at $38.23, just 23 cents more than its IPO price.

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