$40 million Accomodations Fund for Facebook (FB) IPO Approved by NASDQ
The members will qualify for accommodations if:
- They were directly disadvantaged because of technical problems on the part of NASDAQ prior to the start of trading at 11:30 a.m.; and that
- They were uncertain regarding their IPO cross position.
This program will provide accommodations involving 3 kinds of orders that were placed during the IPO cross:
- Sells priced at $42 or less that didn’t execute
- Sells priced at $42 or less executed at an inferior price
- Buys priced at $42 that executed in the cross but not immediately confirmed
This will not be made available for losses that resulted from affirmative decisions by members, or in cases where members told investors that unconfirmed trades had been executed.
If you or a family member sustained investment losses due to your stock broker or financial advisor’s recommendations in Facebook (FB) stock, call Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, for a no cost consultation on how to potentially recover your Facebook losses. To speak with an attorney please call 888-760-6552, or visit: http://www.securitieslawyer.com.
Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.
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