Reuters: Regulatory News: Nasdaq expects 4th-qtr SEC ruling on Facebook compensation plan

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Nasdaq expects 4th-qtr SEC ruling on Facebook compensation plan Sep 10th 2012, 16:58 NEW YORK, Sept 10 | Mon Sep 10, 2012 12:58pm EDT NEW YORK, Sept 10 (Reuters) - Nasdaq OMX Group Inc expects U.S. regulators to rule in the fourth quarter on the exchange operator's $62 million compensation plan for firms harmed in Facebook Inc's glitch-ridden initial public offering, Chief Financial Officer Lee Shavel said on Monday. Shavel said Nasdaq stood by the plan, despite some strong objections voiced to the U.S. Securities and Exchange Commission that it does not go far enough. Shavel added that the company had "robust legal and factual defenses" with regard to any litigation associated with the May 18 IPO.

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