(Sunday, May 20, 2012 – New York, NY) According to Wall Street Journal reporters Jenny Strasburg, Jacob Bunge and Gina Chon, NASDAQ officials admitted that its system suffered technology problems that impacted trading in millions of shares of Facebook on its May 18th IPO. “This was not our finest hour,” said NASDAQ OMX Group Chief Executive Robert Greifeld. The main problem, he said, was a malfunction in the trading-system’s design for processing order cancellations. Id. NASDAQ’s technical problems on Friday with Facebook’s IPO left investors with orders processed improperly. If you experienced a problem trading Facebook stock on Friday, for example, you did not know if your market order to buy the stock went through to even be in a position to sell it as the stock price declined, give the attorneys at Garteiser Honea a call so we can discuss your legal options with you.
NASDAQ Faces Legal Liability for its Technical Problems with Facebook’s IPO
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Garteiser Honea is a litigation boutique dedicated to winning high-stakes trials and appeals in courts across the country. We handle complex intellectual-property and business disputes as lead counsel. And given our experience and familiarity with federal and state courts in East Texas and Northern California, we often entertain requests to serve as local counsel here. Our attorneys come from top-ranked law schools and from prestigious judicial clerkships for federal trial or appeals...
