Ubs May Have Facebook Trading Loss Of $350 Million

UBS Sues Facebook

UBS is sitting on losses that could be as high as $350 million stemming from its investment in the Facebook initial public offering, and is preparing legal action against Nasdaq as a result, people familiar with the matter told CNBC.

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Topics:  banks   facebook   facebook ipo   ipo   nasdaq   social media   social networking   stocks   technology   ubs   
  • UBS sues Nasdaq over bungled Facebook flotation which led to $356million loss as shares for social media hit record low
    When the confirmations finally came through, UBS and other market makers were left owning large amounts of unwanted Facebook stock, which led to losses as the stock plunged. It also is unclear what role UBS's own trading system might have played in the ...
    07/31/2012 - 1:24 pm | View Link
  • UBS lost $356 million on Facebook, suing Nasdaq for it
    ... said Tuesday that it lost $356 million on Facebook's IPO due to Nasdaq's trading glitches during the company's market debut in May -- and it plans to sue the stock exchange for every cent of it. "UBS's loss resulted from NASDAQ's multiple failures to ...
    07/31/2012 - 7:29 am | View Link
  • UPDATE 4-Facebook fiasco drags UBS profit lower
    The Facebook loss came on top of a drop in investment bank income as revenue from equity derivatives wilted. UBS is usually stronger in issuing and trading equities than trading debt and commodities. By contrast, foreign exchange and bond trading held up ...
    07/31/2012 - 4:15 am | View Link
  • UBS profits disappoint amid loss on Facebook IPO
    UBS said it lost 349 million Swiss francs ($357 million) following Facebook's initial ... UBS suffered from weak trading activity and ongoing volatility in financial markets. UBS's investment bank reported a pretax loss of CHF130 million which it failed ...
    07/30/2012 - 2:47 pm | View Link
  • UBS Halves 2Q Profit on Facebook IPO Exposure
    “UBS's loss resulted from NASDAQ's multiple failures to carry out its obligations, including both opening the Facebook stock for trading and not halting trading in the stock during the day,” UBS said in a statement. The bank said it will take the ...
    07/30/2012 - 1:45 pm | View Link
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    ★★★★ Zero Hedge Ubs Trading Floor - Elise Xavier. Top 10 Survival Skills You Need to Know :: ZERO HEDGE UBS TRADING FLOOR :: (Step By Step) Watch Video Now!
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