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SEC clears Nasdaq’s Facebook payout

Posted: March 26, 2013 at 3:34 a.m.

Pedestrians pass a monitor displaying Facebook’s share price at the Nasdaq MarketSite in New York on May 21, 2012. Nasdaq OMX Group Inc. will pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s initial public offering on May 18, 2012.

Regulators have cleared Nasdaq OMX Group Inc.’s plan to pay $62 million to compensate brokers for its mishandling of Facebook Inc.’s public debut, dealing a defeat to Wall Street firms that say they lost many times that amount.

This story is only available from our archives.

Business, Pages 23 on 03/26/2013

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