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Swiss Bank Threatens to Sue NASDAQ Over Facebook IPO

Posted by samzenpus on from the what-took-you-so-long dept.

jfruh writes "On the day of the Facebook IPO, the NASDAQ's trading systems suffered multiple failures and couldn't confirm buy orders for several hours. Big banks buying shares for their funds and customers placed multiple orders as a result, and bought more Facebook stock than they intended to as a result. NASDAQ has agreed to set up a fund to compensate them for their losses, but apparently this isn't enough for Swiss bank UBS, which is threatening legal action."

1 of 147 comments (clear)

  1. Re:Dear Swisstards by Anonymous Coward · · Score: 5, Insightful

    As a swiss i'm a bit offended by this post. You're right about it beeing UBS' fault.
    But the rest is PURE BS.

    We have some privacy laws. Like forbiding any government (including ours!) to snoop around our finances. That's it. There will always people who abuse this. But if you want to live in a police state with no privacy fine. I'm a regular citizen, pay my taxes and i still think it's a good thing the gov can't snoop around my bank accounts.