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  • cryingguy

    News

    Bonus Watch ’13: Everyone *Could* Get A Raise

    That’s what some report says now but seeing as how we’ve got about six months […]

    / Jun 25, 2013 at 3:18 PM
  • News

    Nasdaq Officials Would Just Like To Point Out That Anyone Who Lost Money As A Result Of The Exchange’s Incompetence Have Little To No Legal Recourse

    Oh you can try a lawsuit but, historically speaking, it won’t do shit.

    Nasdaq is sending a message to firms weighing lawsuits related to trading losses in Facebook’s initial public offering: winning won’t be easy. The exchange operator believes it is protected by its contracts with members and by its unusual legal status, which is rooted in its dual role as a regulatory body as well as a business that makes money running markets. Exchange officials in recent weeks have pointed out to analysts that Nasdaq has never been successfully sued over a trading error. “When you look at member agreements that people sign, it’s quite explicit that they’re bound by that accommodation policy,” Robert Greifeld, Nasdaq’s chief executive, said last week at a Sandler O’Neill + Partners conference, referring to legal agreements capping the exchange’s payouts linked to system problems…Banks and brokers have estimated they lost hundreds of millions of dollars due to technical problems during Facebook’s May 18 debut.

    The glitches forced Nasdaq to delay Facebook’s opening, and left trades involving millions of shares unconfirmed for hours. Amid the chaos, traders were forced to guess their positions and place additional orders based on those estimates. When Nasdaq delivered the results of the trading Friday afternoon, many firms were caught off guard and scrambled to reposition.

    According to Greifeld, the last guy who tried to get his money back “trades on the pink sheets now” but take your best shot.

    Nasdaq Claims Strong Defense [WSJ]
    Related: UBS Not Sweating The Small Stuff

    / Jun 14, 2012 at 4:03 PM
  • News

    Royal Bank Of Scotland Chairman Isn’t Gonna Sugarcoat Things Here

    Sir Philip Hampton said investors who owned RBS shares before its £45.5bn bailout in October […]

    / May 30, 2012 at 3:36 PM
  • DanLoeb_4 (1)

    News

    Dan Loeb Has A Valentine’s Day Surprise For Yahoo

    The promise of a proxy battle, unless they comply with every one of his demands […]

    / Feb 14, 2012 at 4:32 PM
  • Layoffs

    Layoffs Watch ’11: Bank Of America Actually Cutting 30,013

    Earlier this month, Bank of America announced that it’d be laying off 30,000 employees, as […]

    / Sep 20, 2011 at 4:31 PM
  • News

    Dear Investor

    For the month ended January 31, 2009 Highbridge Long/Short Equity Fund, L.P. posted an estimated […]

    / Feb 3, 2009 at 4:18 PM
  • News

    Unsolicited Advice To CNBC

    If you’re going to shame a “website” for putting up what was in fact a […]

    / Oct 16, 2008 at 9:34 AM