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Nasdaq offers $40 million apology to Facebook investors

Laura Barnes
Nasdaq offers $40 million apology to Facebook investors

Stock market giant Nasdaq tried to make amends with Facebook investors after technical glitches messed up the public sale of the social network’s shares.

Facebook went public on May 19th, but technical problems kept many investors from buying shares, selling them later on, or even knowing whether their order went through.

After this disaster, investors issued a number of lawsuits against Facebook, Mark Zuckerberg himself, and the Nasdaq exchange.

Nasdaq will pay around $14 million in cash to companies that had trouble buying and selling shares. The rest of the money will be given as credit.

But the apology has not been universally accepted as some brokers and investment companies have complained that the reimbursements are not nearly enough.

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Tags: Internet, facebook, mark zuckerberg, investors, nasdaq, social network

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