NASDAQ OMX Group, Inc. v. UBS Securities, LLC
Court of Appeals for the Second Circuit
1Opinion of the Court
Judge STRAUB dissents in a separate opinion.
REENA RAGGI, Circuit Judge:
On May 18, 2012, plaintiffs, the NASDAQ OMX Group, Inc. and the NASDAQ Stock Market LLC (collectively “NAS*1013DAQ”), conducted the initial public offering (“IPO”) for Facebook, Inc. The IPO was one of the largest in history, with 421 million shares of Facebook common stock offered at $88 per share, for a total value of over $16 billion. In conducting the offering, NASDAQ encountered and addressed various problems, prompting a number of subsequent actions, including disciplinary proceedings by the Securities and Exchange…
2Cases cited53 opinions
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