Nasdaq OMX is defending its $62 million payout offer to brokers who lost millions from Facebook’s problematic debut, reports Arash Massoudi of Financial Times.
This comes after Citigroup and UBS last month urged regulators to reject Nasdaq’s proposal because it was insufficient in size.
Nasdaq fired back on Wednesday, saying the payout “goes well beyond what is required” under current rules and “prioritizes the compensation of investors,” writes Massoudi.
Read more: Nasdaq answers Facebook settlement critics
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