Facebook Inc. (FB:US) underwriters purchased the company’s stock to keep it from falling below $38 a share after debuting on the Nasdaq Stock Market, people with knowledge of the matter said.
The bankers supported the stock after Nasdaq OMX Group Inc. (NDAQ:US) faced difficulties delivering trade execution messages after the initial public offering, said one of the people, who asked not to be identified because the transactions are private.
Jonathan Thaw, a spokesman for Menlo Park, California-based Facebook, declined to comment.
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