Nasdaq Official Said to Concede Missteps in Facebook IPO Process

Nasdaq Official Said to Concede Missteps in Facebook IPO Process

Peter Foley/Bloomberg

Nasdaq and Facebook ran into trouble when computer systems used to set the opening price were overwhelmed by order cancellations and updates during the “biggest IPO cross in the history of mankind,” Nasdaq Chief Executive Officer Robert Greifeld, 54, said in a call with reporters two days ago.