Selective Dissemination is ILLEGAL.
“Selective dissemination of this sort could be a direct violation of securities laws. Irrespective of its legality, it is also grossly unfair. The SEC should investigate this immediately.” ~ Alistair Barr
See the rest of the story here:http://finance.yahoo.com/blogs/daily-ticker/facebook-bankers-secretly-cut-facebook-revenue-estimates-middle-133648905.html
“The bottom line is that, even if dissemination laws were followed to the letter (which frankly seems unlikely), the selective disclosure here was grossly unfair.The SEC needs to look into this.” Reuters Breaking News on THE TICKER
By Aaron Smith
http://money.cnn.com/2012/05/22/markets/facebook-shares/?hpt=hp_t3
“More than 80 million shares changed hands in the first 30 seconds of trading on Friday. Volume spiked to about 567 million shares by the end of the session, setting a new volume record for IPOs.
Let’s get real here!4
“Robert Greifeld, the chief executive of Nasdaq OMX, said he was “embarrassed” by the technical glitches that caused the stock’s debut to be delayed.
The glitch reportedly kept some traders from knowing for more than two hours whether their orders had been completed or canceled, leading some pundits to wonder whether the delay eroded Facebook’s debut.
To prevent a repeat of such delays, Nasdaq said Monday that it has tweaked its IPO process and will no longer accept last-minute changes to orders for shares of an IPO.
On top of it brokerage houses are still displaying this on there websites as of today May 22, 2012
Facebook
“… continues to deal with the aftermath of Friday’s market issues in delayed processing of orders for Facebook (FB) stock. As they did then, our systems continue to operate normally. Although some executions were reported back from market makers over the weekend, we are still waiting for final responses on other orders. This is an industry-wide issue and we are working aggressively to address it. We appreciate your continued patience.”
REALLY???
More proof that some funny business is going on right under the general public’s nose!
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