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   
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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 - 5:49 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 ...
    07/31/2012 - 11:28 am | View Link
  • UBS’s huge Facebook loss throws doubt on Nasdaq plan
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    07/31/2012 - 11:13 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 - 8:01 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 - 3:52 am | View Link
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