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's huge Facebook loss throws doubt on Nasdaq plan
    But that alone does not account for the massive loss. UBS said that as ... 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 ...
    08/1/2012 - 9:02 pm | 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 ... Shares in UBS had fallen 4.76 percent to $10.63 in late morning trading on the Zurich exchange. Shares have declined ...
    07/31/2012 - 1:06 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.
    07/30/2012 - 11:41 pm | 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
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