NASDAQ Faces Legal Liability for its Technical Problems with Facebook’s IPO

(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.