Nasdaq expects significant new expenses over Facebook IPO

NEW YORK (Reuters) - Nasdaq OMX Group Inc expects to incur costs well above the $62 million it has set aside to pay back firms harmed by the glitch-ridden Facebook IPO, as it fights lawsuits and updates its systems, it said in a regulatory filing on Friday. Nasdaq said it is cooperating with an investigation by the U.S. Securities and Exchange Commission into the problems at the exchange during the $16 billion IPO on May 18. The New York-based exchange operator also said that it is the subject of eight lawsuits by investors and one by trading firms for its role in Facebook's problematic debut. ...