The backlash over Facebook's botched IPO now includes a lawsuit by a Maryland investor against NASDAQ. Phillip Goldberg is seeking class-action status on behalf of all fellow investors who lost money because NASDAQ delayed or otherwise mishandled their buy, sell, or cancellation orders when Facebook went public last Friday. NASDAQ Chief Executive Officer Robert Greifeld acknowledged a technical glitch that delayed the start of trading on Facebook by 30 minutes, saying NASDAQ was "humbly embarrassed" and "this was not our finest hour." But whether Goldberg (and the rest of the class, if it's certified) have an actionable negligence claim remains to be seen. What the investors do have for certain is a stock that's now dipped to $31 a share, or $7 below its $38 IPO price.
Photo: Emmanuel Dunand/AFP/Getty Images
- 1. World Leaders Take Most Menacing G8 Group Photo Ever
- 2. Did Kimye Name Their Baby Kaidence Donda West?
- 3. The 10 Ways That Men Text Women
- 4. Dan Harmon Got Rehired for Community for the Same Reason He Got Fired
- 5. Man of Steel City Damage Professionally Estimated
- 6. The Story Behind the Brazil Protest’s Shocking Pepper-Spray Photo [Updated]
- 7. Serena Williams Issues Pathetic Non-Apology [Updated]
- 8. Dolce & Gabbana Sentenced to Prison [Updated]
- 9. Mad Men’s Kiernan Shipka on Smoking, Eye Rolls, and What’s Next for Poor Sally Draper