Nasdaq Takes Steps To Compensate Facebook Investors

06/05/2012 04:40 pm ET | Updated Aug 05, 2012
  • JACOB BUNGE And BRETT PHILBIN Wall Street Journal

Nasdaq OMX Group Inc. NDAQ +2.20% officials are telling brokers they plan to submit Wednesday the first step in the exchange group's bid to compensate investors for the technical glitches that undermined Facebook Inc.'s FB -3.83% initial public offering, according to people familiar with the matter.

The filing with the Securities and Exchange Commission is expected to come alongside further details from Nasdaq on its proposal to make up some of the losses sustained by banks and trading firms, which collectively have been estimated above $100 million, the people said.

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