Nasdaq defends Facebook settlement

Nasdaq OMX is defending its $62 million payout offer to brokers who lost millions from Facebook’s problematic debut, reports Arash Massoudi of Financial Times. Read: Facebook shares freefall after lock-up lifted This comes after Citigroup and UBS last month urged regulators to reject Nasdaq’s proposal because it was insufficient in size. Nasdaq fired back on […]

By Wire services | September 20, 2012 | Last updated on September 20, 2012

1 min read

Nasdaq OMX is defending its $62 million payout offer to brokers who lost millions from Facebook’s problematic debut, reports Arash Massoudi of Financial Times.

Read: Facebook shares freefall after lock-up lifted

This comes after Citigroup and UBS last month urged regulators to reject Nasdaq’s proposal because it was insufficient in size.

Nasdaq fired back on Wednesday, saying the payout “goes well beyond what is required” under current rules and “prioritizes the compensation of investors,” writes Massoudi.

Also read:

Fund managers betting on Facebook

What is Facebook really worth?

Why did Facebook fail?

Facebook takes a gamble to boost revenue

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