Nasdaq, Facebook diverge over IPO lawsuits


  • Technology Premium
  • Thursday, 19 Jul 2012

Nasdaq OMX Group Inc and investors who sued the exchange operator over Facebook Inc's US$16bil (RM48bil) initial public offering have asked a judicial panel to keep their dispute separate from dozens of related shareholder lawsuits.

The No. 1 social network and lead underwriters Morgan Stanley, Goldman Sachs Group Inc and JPMorgan Chase & Co had filed a motion requesting that the various lawsuits over the IPO be grouped together in federal court in Manhattan.

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