Nasdaq is Fined $10 Million Over Facebook IPO (The New York Times/Dealbook)
Nasdaq’s parent company will pay the largest fine ever levied against an exchange for “poor systems and decision making” both before and after the bungled Facebook initial public offering. The confusion on the morning of May 18, 2012, had been caused by errors in Nasdaq’s computer programming, but executives at the exchange decided to ignore the request for a break and proceed with trading, leading to mounting confusion.
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