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.

Sections:  news   business   
Topics:  banks   facebook   facebook ipo   ipo   nasdaq   social media   social networking   stocks   technology   ubs   
  • 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 Loss on Facebook IPO
    The main reason was the botched Facebook (NASDAQ:FB) IPO, which generated substantial trading losses. In Tuesday morning trading, UBS stock is down 5%. Nasdaq (NASDAQ:NDAQ) reserved $62 million in compensation for brokers on the Facebook transaction.
    07/31/2012 - 4:41 am | View Link
  • UBS Hit by Facebook Loss; Vows Legal Action Against Nasdaq
    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. We will take appropriate legal action against NASDAQ to address ...
    07/31/2012 - 1:33 am | View Link
  • No Facebook friend: UBS reports $350M IPO loss
    It has offered $62 million to help investors recover losses. Initially, UBS said its Facebook loss wasn't "material," according to Bloomberg News. But that plainly wasn't the case. The trading loss knocked about 60% off UBS' second-quarter earnings and ...
    07/31/2012 - 1:01 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
  • More
  • Facebook trading loss..... | Piggington's Econo-Almanac ...
    UBS May Have Facebook Trading Loss of $350 Million. ... UBS = IDIOTS!!! Login or register to post comments; Kind of like double posting. Submitted by paramount on ...
    02/25/2017 - 4:34 pm | View Website
  • 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 ...
    07/31/2012 - 2:26 pm | View Website
  • UBS: Facebook IPO Cost Us $350 Million
    UBS joined a list of brokers that have plans for legal action against Nasdaq to recoup losses from Facebook's IPO. David Benoit reports on Markets Hub.
    07/31/2012 - 3:27 am | View Website
  • Behind the Huge Facebook Loss at UBS
    Perhaps the most glaring aspect of UBS‘ poor quarterly earnings announcement was the $356 million loss tied to Facebook‘s initial public offering.
    07/30/2012 - 10:27 pm | View Website
  • UBS hit by Facebook loss
    UBS hit by Facebook loss. Read next. ... and last year becoming embroiled in the largest unauthorised trading loss in British history. The trading scandal led to the ...
    07/30/2012 - 7:56 pm | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News