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'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 ...
    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 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
  • 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 hit by Facebook loss
    UBS suffered a 58 per cent fall in net profit in the second quarter and said it would take legal action against Nasdaq over the botched public listing of Facebook ... embroiled in the largest unauthorised trading loss in British history.
    07/30/2012 - 11:00 pm | View Link
  • More
BING SEARCH:
  • UBS May Have Facebook Trading Loss of $350 Million
    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 ...
    06/7/2012 - 10:11 pm | View Website
  • UBS: Facebook IPO Cost Us $350 Million
    UBS said the loss on the Facebook IPO wiped out nearly half of its second-quarter profit, and it accused Nasdaq of a "gross mishandling" of the stock ...
    07/31/2012 - 3:27 am | View Website
  • UBS Has $2 Billion Trading Loss; Man Arrested in London ...
    UBS AG, Switzerland’s biggest bank, said it may be unprofitable in the third quarter after a $2 billion loss from unauthorized trading at its investment bank.
    09/15/2011 - 5:22 am | View Website
  • UBS Profit Falls on Facebook Loss
    LONDON — UBS reported on Tuesday a 58 percent decline in its net profit in the second quarter as a fall in investment banking income weighed on the Swiss bank.
    07/30/2012 - 10:55 pm | View Website
  • UBS Loss On Facebook Trading May Be In The Hundreds Of ...
    UBS Loss On Facebook Trading May Be In The Hundreds Of Millions. ... UBS is sitting on big Facebook ... full extent of these loses related to Facebook trading.
    09/12/2016 - 3:08 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