Posted by: youngragingbull | January 24, 2013

SEC delays decision on botched-Facebook IPO compensation plan

The SEC will delay, by another two months, a ruling on Nasdaq OMX Group’s $62-million (U.S.) plan to compensate firms that suffered losses during Facebook’s botched initial public offering in May.

The SEC said it needs more time to consider Nasdaq’s proposal, as well as the comments received from various parties in favor of or against the plan, according to a regulatory filing dated Jan. 23.

The SEC, which had been expected to decide on the matter by Jan. 28, said its decision would be made by March 29.

Market-makers like Knight Capital Group Inc, UBS AG , Citigroup Inc, and others, have said they collectively lost around $500 million (U.S.) on May 18, when shares of Facebook first traded on public markets.



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