News Breaks |
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| August 3, 2012 |
| 15:49 EDT |  | NDAQ, FB | NASDAQ says expects significant additional expenses from Facebook suits
Nasdaq (NDAQ) disclosed in its 10Q filing that during Q2 eight lawsuits were brought against it by retail investors seeking damages for alleged negligence in connection with the Facebook (FB) IPO and a ninth lawsuit was brought by professional proprietary trading firms. The company stated that "pending the resolution of these matters, we expect to incur significant additional expenses in defending the lawsuits, in connection with the SEC investigation and in implementing technical changes and remedial measures which may be necessary or advisable." |
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