Nasdaq to unveil Facebook compensation plan
July 22 , 2012
Nasdaq plans to release its compensation plan next week for firms that lost money in the botched Facebook IPO, according to the FOX Business channel.
The deal being discussed will be all cash and likely to be more than the $40 million originally proposed.
An unnamed source told the network the new proposal could be as high $100 million.
Nasdaq had proposed a $40 million pool, comprised of $13.7 million in cash and the rest in trading credits.
Investors, who lost an estimated $200 million on the IPO, criticized the move saying the trading credits would force them to trade on the Nasdaq.