Nasdaq: Just Try And Sue Us - and Other News Told in Charts
Nasdaq (NDAQ) chief Robert Greifeld doesn’t seem terribly worried about liability over the botched Facebook (FB) IPO. Bankers, brokers and investors claim they lost hundreds of millions of dollars in the chaos last month, but Greifeld’s been saying that Nasdaq will win any lawsuits because its contracts with members protect it and because it is a self-regulatory organization, reports the Wall Street Journal. It will have to prove that. According to the New York Times, Facebook is getting ready to file a motion that will place some blame for what happened on Nasdaq.
CME Group To Pay $175 Million
Different exchange, different problems. CME Group (CME) struck a deal yesterday to pay $175 million over last fall's collapse of MF Global, reports the Wall Street Journal. Of the $175 million, $130 million will go to former customers of MF Global. And when it comes to the $1.6 billion in funds still missing, CME agreed that customers’ claims to that money will get priority over its own.
Lockheed, Union In Battle
There's something ironic about a fight at a fighter-jet factory. A union fight is building at a Lockheed Martin (LMT) plant that makes F-35 fighter jets. Some union members have been on strike for eight weeks. The company is bringing in temp and non-union workers to keep production moving. The issue, as Reuters reports, is pension benefits, which Lockheed's under pressure to reduce but the union wants to keep.