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FBN’s Charlie Gasparino on the plan to pay back Facebook investors harmed by delays caused by the Nasdaq.
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-- right now he has some -- On that story we're telling you about the net -- the NASDAQ settlement over FaceBook Charlie -- -- you have.
Well like a broken clock I think it now limelight once and awhile but anyway.
Here's what we know just about what we reported all day with the Fox Business that -- -- NASDAQ he's changing its accommodation plant that FaceBook IPO has to pay back investors who are obviously harmed in the delays that -- directly caused by that aspect.
Initial plan was forty million -- that you remember but let's part cash.
Most of it 27 million dollars in these trading credits that -- out as we reported earlier today.
This will be an all cash deal.
It amounts to about sixty million dollars from what we understand so it's right around the range we are talking remember earlier today.
I said I had one sources said it was a we could be as much as a hundred million.
But displayed -- sixty million dollars the plan will be filed imminently which is interest state.
I think the fox is that we're at some that do it you know basically doling out there and then putting out the details of that they have now decided to file -- -- -- in about the next half hour or so it's 630 filing with the SEC where you'll get these sort of people work on it at a press release.
Will be going -- very shortly with with Bob -- builds.
Well before commented -- so that's where we are right now.
I still.
Don't think this will be enough.
I.
Try my next question you because you have been all over this story from the beginning in you have talked a lot.
To the other side to the people that are looking for reparations to you know what they're expecting have you think it's gonna go -- Don't think it's enough I -- you know what people were saying it is like you're right that I had a couple sources -- that was that was very clear honest.
They weren't directly tied into it is much is a hundred million dollars I thought they'd go to the hundred.
Because that's a nice round number it looks like they're giving up some something you know they're they're conceding stuff.
They're not quite elevated oldest 62 they are -- all cash.
Which is which is interest so.
You know who knows the put this out laid out -- Friday.
-- Michael I.
He didn't miss it.
They don't put out late Friday they thought people would miss that we had Charlie Gasparino -- aren't any.
Melissa I really do think do they're gonna put it out last week with next week that's that was the plant we we expedited matters to the real question is that this.
Does this help -- enjoy the outdoors care about this I will say it's all cash.
The op Ed member the vote trading credits -- of the trading credit.
Because it was clever it was clever on their part but it went over like a lead balloon I mean it's -- Particularly -- FTC and this is -- you know would -- you know is the back story.
What did they do to put that put -- -- clear -- what we understand they were in deliberations with the FTC for weeks that.
There was traps being being being floated with the SEC.
SEC clearly as -- -- key top regulator did not like the notion of trading credits which would have drug driven order flow and business to that.
After we heard something up.
-- genius but at at.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Thank you so much for working this story for -- late on a Friday we appreciate -- you always.
