Nasdaq Plays Tough With Clients Angry Over Facebook

Reuters/Staff

Reuters – By John McCrank                 June 1, 2012

(Reuters) – It’s crisis communications 101 for Corporate America: when a company bungles an event as big as the Facebook IPO, alienates customers, and spawns lawsuits and regulatory inquiries, the CEO apologizes and agrees to provide compensation to make things right. Everyone can then move on.

Not so at Nasdaq OMX Group, where technology glitches and a communications breakdown marred Facebook’s $16 billion initial public offering on May 18.

Since then, the exchange has done little to conciliate market making clients – a number of which lost tens of millions of dollars each due to the trading problems. There has been no outright apology. And as angry as some customers may be, experts say they have little alternative but to keep trading on the exchange.

To read the full article please click here.

This entry was posted in Articles, Business, Finance, U.S. Economy, World Economy, World Exchanges and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s