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 lost $356 million on Facebook, suing Nasdaq for it
    UBS 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
  • Nasdaq's bungling of Facebook IPO cost UBS $357 million, bank says
    "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. "We will take appropriate legal action against Nasdaq ...
    07/31/2012 - 7:13 am | View Link
  • UBS hit by Facebook IPO loss
    UBS incurred a 349 million francs loss due to problem executing electronic trades on the day of Facebook's listing on the Nasdaq exchange ... 4.76 percent to 10.41 francs ($10.63) in late morning trading on the Zurich exchange. Shares have declined more ...
    07/31/2012 - 3:30 am | View Link
  • UBS Earnings Q2 2012: Facebook Loss Hits Bank's Profit
    The bank, one of Nasdaq's four largest market makers in the Facebook IPO ... 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 ...
    07/30/2012 - 4:48 pm | View Link
  • Behind the Huge Facebook Loss at UBS
    Still, while many market-making firms have confirmed that they lost money from the technical issues that plagued trading of Facebook shares on the first day, UBS’ loss was far and away above what its peers have experienced. The Knight Capital Group ...
    07/30/2012 - 3:28 pm | View Link
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  • UBS Clients Pull $15 Billion in Quarter as Margins Decline ...
    UBS Group AG suffered a net 15.2 billion francs ($15.2 billion) in withdrawals during the final three months of last year, in part because investors moved ...
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