Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
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- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Modern Mission Critical Series
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
SEC approves Nasdaq's Facebook IPO payment plan
Sunday - 3/31/2013, 12:46am EDT
NEW YORK (AP) -- The Securities and Exchange Commission said Monday that it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook's initial public offering last year.
The Nasdaq had said in June that it would pay $40 million but later increased the amount to $62 million.
Facebook went public May 18 amid great fanfare, but computer glitches at the Nasdaq delayed the start of trading and threw the debut into chaos. Technical problems kept many investors from buying shares that morning, selling them later in the day or even from knowing whether their orders went through. Some said they were left holding shares they didn't want.
Facebook's stock originally priced at $38 and closed that first day at $38.23 after going as high as $45. The lackluster close disappointed investors who had hoped for a first-day pop. Nasdaq has said that it was embarrassed by the glitches, but that they didn't contribute to the underwhelming returns.
Shares of Menlo Park, Calif.-based Facebook Inc. fell 39 cents to $25.34 in Monday morning trading. The stock has not hit its IPO price since the first day of trading.
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