‘Thousands’ hit by Facebook woes

Fidelity Investments said it was working with “thousands” of brokerage clients affected by trading issues that have engulfed Facebook Inc’s much-anticipated initial public offering, according to a source familiar with the situation. The social media site’s IPO has been steeped in controversy since it started trading last Friday.

Almost a week later, many investors have found that their orders for Facebook were not executed at the prices they thought, said advisers, who declined to be identified because they are not allowed to speak to the press.

All Facebook stock trades in clients’ accounts from May 18 have been confirmed, a Fidelity spokesman said… Read more