Business & Finance
Fri, May 25, 2012 
WASHINGTON--([ BUSINESS WIRE ])--Goldberg v. Nasdaq OMX Group, Inc. (S.D.N.Y. 12-cv-4054) was filed on May 22, 2012 by Finkelstein Thompson LLP and Lovell Stewart Halebian Jacobson LLP. The complaint seeks to recover losses suffered by investors when their orders for Facebook stock on the offering date, May 18, 2012, were not promptly and correctly executed. The defendants are Nasdaq OMX Group, Inc. (Nasdaq: NDAQ) and The Nasdaq Stock Market LLC.
Finkelstein Thompson LLP and Lovell Stewart Halebian Jacobson LLP specialize in complex financial litigation and represent the plaintiff.
The firms make the following statement concerning the case:
The proper functioning of the American capital markets depends upon our stock exchanges promptly and correctly executing transaction orders placed by investors. The ability of companies to raise capital, the confidence of investors big and small, and the faith of the world in Americaas financial markets are at stake. From the large institutions that handle Americaas retirement funds to the families and individuals across our land who are investing for their futures, all must be assured that they can rely on the institutions that are responsible for maintaining and running liquid and orderly trading markets.
We are aware that perhaps thousands of investors wanted to participate in the Facebook offering , and then in good faith relied on the integrity of our stock exchange systems and their reputation for a high level of competency to place trade orders for Facebook stock, only to be caught in the middle of a market nightmare that was not of their own making and that caused them to suffer completely unanticipated financial losses. We believe this lawsuit will play a major role in ensuring that investors are made whole for losses that were beyond their control and that were not reasonably part of the customary risks of investing in the American financial markets.
The Finkelstein and Lovell firms have successfully collaborated in the past, having recovered over $100 million on behalf of market participants in connection with exchange trading in natural gas futures and options.
