Nasdaq says should have nixed Facebook IPO: WSJ

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Nasdaq says should have nixed Facebook IPO: WSJ
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- The Nasdaq Stock Market would have stopped Facebook Inc.'s initial public offering had its executives known the full extent of technical problems that were going to occur, The Wall Street Journal reported Tuesday on its website. Eric Noll, Nasdaq OMX Group Inc.'s head of transaction services, told brokers in a conference call that the decision to proceed was incorrect in retrospect, the newspaper said. Nasdaq OMX also was not able to elaborate on whether it could compensate customers for losses resulting from its failures, according to the Journal. Facebook's much-anticipated debut was marred by delayed trading, leaving investors uncertain whether their transactions were properly processed.