UBS to Take $356 Million Loss on Facebook IPO

Posted on July 31, 2012 at 18:05 PM EDT

The fallout from the botched Facebook IPO continues as Swiss banking giant UBS announced it took a $356 million hit on the hotly-anticipated stock sale and that it intends to sue Nasdaq OMX Group for what it calls the stock market's "gross mishandling" of the deal.

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FACEBOOK-A NASDAQ OMX Group, Inc. UBS AG

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