The lawsuit, we suppose is not so surprising, but the $350 million number is new. Knight Capital has said it lost $35 million to the delays in trading on Facebook’s IPO day, and we’ve been reading that the stock’s four biggest market makers—Knight, Citadel, Citigroup and UBS—suffered losses in the neighborhood Read More
This should be fun, at least for those of us without any skin in the game: Nasdaq will disclose plans to compensate investors who suffered losses when technical glitches delayed the trading of Facebook shares on May 18 in an SEC filing tomorrow, the Wall Street Journal is reporting.
The catch is that regulations govern Read More
Muted response: As the clock ticked past Facebook’s scheduled open, Nasdaq stayed mum on the technical glitches that delayed trading in the social media company’s stock by 28 minutes. The resulting chaos lasted hours, causing confusion over who had bought and sold how many shares at what prices—and leading to about $115 million in losses Read More
An important warning, courtesy John Kinnucan, tech consultant to Wall Street firms: Now that the authorities are reaching a key stage in a three-year, across-the-board investigation into insider trading, a glass of wine on the front porch just got a lot less calmly contemplative for high-powered financiers and their consultants:
John Kinnucan says Read More