Swiss bank may have lost $350mln due to Facebook IPO glitches

London, June 9 (ANI): Swiss bank UBS may have lost as much as 350 million dollars due Nasdaq stock exchange's technical glitches that marred Facebook's Initial Public Offering ( IPO) on May 18.

According to a report by CNBC and The Wall Street Journal, people familiar with the matter claimed that UBS is considering legal action against Nasdaq.

UBS spokeswoman Karina Byrne confirmed that the bank lost money due to Nasdaq's technical issues when Facebook's stock began trading last month.

Byrne, however, declined to disclose the amount, but said it was "not material" to the bank, Express.co.uk reports.

She said UBS has not taken legal action, but is weighing its options for recovering its losses.

"Given the size of our U.S. equities business and our role as a major market maker, UBS was affected by these issues, as we believe other market participants may have been," Byrne said.

Meanwhile, Nasdaq has declined to comment on the matter. (ANI)