It was the biggest lead balloon to crash on Wall Street in years. On May 8, 2012, Nasdaq opened Facebook Inc.'s initial public offering at $38 per share. The price plummeted. Investors lost hundreds of millions of dollars. Now litigation over the botched IPO is moving forward — not just against Facebook, but also Nasdaq.
September 16, 2013 at 12:00 AM
1 minute read
It was the biggest lead balloon to crash on Wall Street in years. On May 8, 2012, Nasdaq opened Facebook Inc.'s initial public offering at $38 per share. The price plummeted. Investors lost hundreds of millions of dollars.
Now litigation over the botched IPO is moving forward — not just against Facebook, but also Nasdaq. A federal judge has scheduled arguments on the exchange's motion to dismiss for October 3.
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