Registered: Sep 2004
06-12-12 10:58 PM
Sorry if this has been already posted or discussed elsewhere, but this is remarkable:
Unfriended: The Facebook IPO Debacle 6/10/2012 6:52:09 PM
The highly-anticipated Facebook IPO was plagued with problems, potentially costing thousands of dollars to many small investors and further damaging Wall Street's reputation on Main Street. A Wall Street Journal report.
Even though a previous statement showed his order as "expired", the broker booked FB shares into his account 5 days later...
Sure the guy was greedy and overleveraged, but that's not the point here. The point is Nasdaq's failure and brokers trying to hand down the losses to clients.
Out of curiosity: Anyone knows how IB handled the FB fiasco?