BY JACOB BUNGE
Nasdaq OMX Group Inc. is sending a message to firms weighing lawsuits related to trading losses in Facebook's initial public offering: winning won't be easy.
The exchange operator believes it is protected by its contracts with members and by its unusual legal status, which is rooted in its dual role as a regulatory body as well as a business that makes money running markets. Exchange officials in recent weeks have pointed out to analysts that Nasdaq has never been successfully sued over a trading error.
"When you look at member agreements that people sign, it's quite explicit that they're bound ...
BY JACOB BUNGE
Nasdaq OMX Group Inc. is sending a message to firms weighing lawsuits related to trading losses in Facebook's initial public offering: winning won't be easy.
The exchange operator believes it is protected by its contracts with members and by its unusual legal status, which is rooted in its dual role as a regulatory body as well as a business that makes money running markets. Exchange officials in recent weeks have pointed out to analysts that Nasdaq has never been successfully sued over a trading error.
"When you look at member agreements that people sign, it's quite explicit that they're bound ...
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