WASHINGTON (Reuters) - Nasdaq OMX Group Inc on Friday said it will file a $62 million compensation plan for firms that lost money in the bungled Facebook Inc initial public offering in May.
The fund is $22 million larger than the original fund proposed in June, NASDAQ said. All accommodations will be paid in cash, a departure from the prior plan in which Nasdaq would have partially compensated firms through trading credits.
The compensation plan will be filed with the Securities and Exchange Commission, Nasdaq said, adding that it expects all payouts will occur within six months.
(Reporting By Rick Rothacker and Karey Wutkowski; Editing by Bernard Orr)
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