News: Page (1) of 1 - 09/10/12

email article

print page

Nasdaq expects fourth-quarter SEC ruling on Facebook compensation plan

US-NASDAQ-FACEBOOK:Nasdaq expects fourth-quarter SEC ruling on Facebook compensation plan

NEW YORK (Reuters) - Nasdaq OMX Group Inc expects U.S. regulators to rule in the fourth quarter on the exchange operator's $62 million compensation plan for firms harmed in Facebook Inc's glitch-ridden initial public offering, Chief Financial Officer Lee Shavel said on Monday.

Shavel said Nasdaq stood by the plan, despite some strong objections voiced to the U.S. Securities and Exchange Commission that it does not go far enough. Shavel added that the company had "robust legal and factual defenses" with regard to any litigation associated with the May 18 IPO.

(Reporting by John McCrank; Editing by Lisa Von Ahn)

Page: 1

Related Keywords:US , NASDAQ , FACEBOOK

---