The repercussions from Facebook’s botched initial public offering deepened on Thursday as Fidelity Investments found itself dealing with “thousands” of customers with order problems and Knight Capital demanded tens of millions of dollars in compensation from Nasdaq for trading-related losses.
The pressure on Nasdaq in particular was intense, not only from investor lawsuits and angry customers, but from the outside prospect it could lose the Facebook listing entirely after having just obtained it…
Advisers familiar with the situation at Fidelity said many investors are now finding out, nearly a week after the fact, that their orders were not executed at the prices they thought…
Knight Capital’s claims could end up dwarfing the Fidelity issues, though.
via Fidelity, Knight problems add to Nasdaq’s Facebook woes | Reuters.
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