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SEC approves Nasdaq's Facebook IPO payment plan

11:40 AM, Mar. 25, 2013
Facebook CEO Mark Zuckerberg speaks at Facebook headquarters in Menlo Park, Calif.
Facebook CEO Mark Zuckerberg speaks at Facebook headquarters in Menlo Park, Calif.
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NEW YORK (AP) - The Securities and Exchange Commission said Monday that it has approved a plan by the Nasdaq stock exchange to pay $62 million in reimbursements to investment firms that lost money because of technical problems during Facebook's initial public offering last year.

The Nasdaq had said in June that it would pay $40 million but later increased the amount to $62 million.

Facebook went public May 18 amid great fanfare, but computer glitches at the Nasdaq delayed the start of trading and threw the debut into chaos. Technical problems kept many investors from buying shares that ...

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If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

Special Reports