By Reuters Reporter PUBLISHED: 23:57 EST, 24 May 2012 | UPDATED: 23:57 EST, 24 May 2012 Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100million, as they and other traders continue to deal with thousands of problems with customer orders. A technical glitch delayed the social networking company's market debut by 30 minutes on Friday and many client orders were delayed, giving some investors and traders significant losses as the stock price dropped. The exchange operator is facing lawsuits from investors and threats of legal action from brokers.
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Underwriter says it will adjust prices for investors who overpaid for shares
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Two congressional panels reviewing IPO debacle
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Shareholders filed a lawsuit alleging banks that underwrote the IPO downgraded revenue projects for the company but never released the information to the public
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Facebook CEO Mark Zuckerberg saved $174 million by selling off 30.2 million shares at $37.58 each
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The Securities and Exchange Commission is investigating the accusations
The orders are supposed to be processed by the exchange within milliseconds, but there was a nearly two-hour delay in processing Facebook orders at the @placeholder.