Nasdaq to Pay $10M Penalty for Role in Facebook IPO, Secondary Market Trading

WASHINGTON, D.C. - (Mealey's) In what is being called the largest ever penalty against an exchange, Nasdaq will pay a $10 million penalty to the Securities and Exchange Commission to settle claims that it violated federal securities laws as a result of its poor decision making during the initial...

Two Investment Frauds Centered on Pre-IPO Shares of Facebook

Fraudulent investment funds purporting to give the public an opportunity to acquire pre-IPO shares of potentially hot stocks such as Facebook have been front and center in the District Court in Manhattan in recent days. In one case a former Oregon gubernatorial candidate and securities law recidivist...