Investor sues Nasdaq over Facebook IPO

Maryland man seeks class action status on behalf of all Facebook investors

A Maryland man filed suit against Nasdaq yesterday, claiming the exchange operator mishandled orders of Facebook Inc. shares after the social network’s initial public offering (IPO) last week. The negligence, the suits says, caused losses for millions of investors.

Phillip Goldberg is seeking class action status on behalf of all Facebook investors who lost money because Nasdaq delayed or mishandled their purchase of the stock, the suit says. Nasdaq’s technical glitch delayed the Facebook’s IPO by about a half-hour. It also delayed order confirmations.

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Cathleen Flahardy

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