It’s payback time, Bob.
Facebook’s initial public offering underwriters are demanding that Nasdaq chief Bob Greifeld cough up tens of millions to cover their losses from the exchange’s bungling of the first day of trading.
The big banks on the deal — Morgan Stanley, JPMorgan Chase and Goldman Sachs — are looking for “a heck of lot more” than the $13 million Greifeld said the exchange has set aside to reimburse brokers and institutional investors who lost money due to Nasdaq’s trading glitches.
Some 30 million shares were mishandled on Friday, when the social network’s public debut was delayed by 30 minutes and then marred by a backlog of badly executed trades.
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Facebook’s initial public offering underwriters are demanding that Nasdaq chief Bob Greifeld cough up tens of millions to cover their losses from the exchange’s bungling of the first day of trading.
The big banks on the deal — Morgan Stanley, JPMorgan Chase and Goldman Sachs — are looking for “a heck of lot more” than the $13 million Greifeld said the exchange has set aside to reimburse brokers and institutional investors who lost money due to Nasdaq’s trading glitches.
Some 30 million shares were mishandled on Friday, when the social network’s public debut was delayed by 30 minutes and then marred by a backlog of badly executed trades.
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