×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: US | Morgan | Stanley | Facebook

Morgan Stanley May Refund Some Facebook Investors

Thursday, 24 May 2012 05:45 PM EDT

Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matter.

This person said the firm is reviewing orders its retail clients placed for Facebook stock, and will make price adjustments if the clients paid too much. The person spoke on condition of anonymity because they were not authorized to discuss the matter publicly. The person did not say what amount constituted overpaying for Facebook's stock.

The world's largest social network's IPO was highly anticipated. But technical problems with the Nasdaq Stock Market delayed its open on Friday, and the stock closed nearly flat on its first trading day at $38.23.

It's down 14 percent as of Thursday.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


130
2012-45-24
Thursday, 24 May 2012 05:45 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved