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   
RELATED ARTICLES
BING NEWS:
  • 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
  • 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's huge Facebook loss throws doubt on Nasdaq plan
    Meanwhile, Facebook shares fell to a new all-time low Tuesday, touching $21.61 in afternoon trading. At that level they are down 52 percent from their first-day high. UBS's 349 million Swiss franc ($355.8 million) loss dwarfs the $62 million all-cash plan ...
    07/31/2012 - 3:59 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's huge Facebook loss throws doubt on Nasdaq plan
    Meanwhile, Facebook shares fell to a new all-time low Tuesday, touching $21.61 in afternoon trading. At that level they are down 52 percent from their first-day high. UBS's 349 million Swiss franc loss dwarfs the $62 million all-cash plan Nasdaq set up to ...
    07/30/2012 - 9:23 pm | View Link
  • More
BING SEARCH:
  • CMCSA:NASDAQ: Comcast Corp Stock Quote and News
    Google, Amazon and 80,000 websites are protesting against the FCC's plans to reverse net neutrality 12 Jul 2017 - CNBC.com
    07/25/2017 - 3:02 am | View Website
  • fastFT
    Hey man, everything’s fine in the eurozone – that’s the message the bloc’s bond yields are sending, at least. Spreads between German government debt yields ...
    07/24/2017 - 10:52 pm | View Website
  • MAT Stock Price
    Mattel Inc. stock price, stock quotes and financial overviews from MarketWatch.
    07/24/2017 - 8:21 pm | View Website
  • Our financial services in your country | UBS United Kingdom
    UBS is a global firm providing financial services in over 50 countries. Visit our site to find out what we offer in the United Kingdom.
    07/24/2017 - 6:48 pm | View Website
  • BUZZ-U.S. STOCKS ON THE MOVE-Facebook, Tesla, insurers ...
    BUZZ-U.S. STOCKS ON THE MOVE-Facebook, Tesla, insurers, energy companies, CF, Global Payments
    07/24/2017 - 6:12 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