Knight Capital Group Inc. estimated that it lost about $30 million to $35 million trading Facebook Inc. because of technical problems at Nasdaq OMX Group Inc. related to the social-media company’s initial public offering.
Knight, a brokerage based in Jersey City, New Jersey, made the disclosure in a filing today with the Securities and Exchange Commission.
The firm said that while it submitted claims for “financial accomodation” from Nasdaq, “there are no assurances that the company will be able to recover any of its losses resulting from the numerous issues and problems at Nasdaq.”
© Copyright 2016 Bloomberg News. All rights reserved.