A New York federal judge has preliminarily approved Nasdaq's $31 million settlement in a securities class action over Facebook Inc.'s botched $16 billion initial public offering, a settlement that Facebook has announced it will object to.

Nasdaq is represented by William A. Slaughter, Stephen J. Kastenberg, Margaret Osborne Padilla, Alan S. Petlak and Paul Lantieri III of Ballard Spahr LLP.

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Securities Enforcement and Litigation