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Tuesday, July 31, 2012

UBS: Facebook IPO Cost Us $350 Million

UBS: Facebook IPO Cost Us $350 Million

UBS AG UBSN.VX -5.86% said it took a loss of more than $350 million on the ill-fated Facebook Inc. NDAQ -1.25% initial public offering, wiping out nearly half of its second-quarter profit, and it accused Nasdaq OMX Group Inc. NDAQ -1.25% of a "gross mishandling" of the stock-market listing.

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