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Nasdaq's Facebook IPO payback plan 'woefully inadequate'

Swiss bank UBS joins a chorus of firms pushing Nasdaq to boost compensation from the Facebook debacle

UBS decried a proposal from Nasdaq OMX Group to make up losses for firms damaged in the Facebook stock market debut, calling the plan "woefully inadequate."

The Swiss banking group, which pegged its own losses in the episode at $356m, in a letter urged regulators weighing the Nasdaq OMX plan to reconsider the exchange company's cap on damages payable due to problems with its technology.

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