Citigroup Inc. (NYSE: C) does not feel it is being dealt fairly with in the matter of losses that arose from the Facebook Inc. (NASDAQ: FB) initial public offering. The bank believes that the settlement offer made by Nasdaq OMX Group Inc. (NASDAQ: NDAQ) is too low.
Citigroup slammed Nasdaq OMX Group’s plan to compensate firms harmed by Facebook’s botched market debut to the tune of $62 million, saying in a regulatory filing the exchange should be liable for hundreds of millions more, according to a letter seen by Reuters.
Since Citigroup is only one of hundreds of parties that could claim damages because of lost investment dollars, regulators will be asked to make a number of other decisions about Nasdaq’s liability.
Douglas A. McIntyre
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
