Scramble for Facebook stock ends in “Face-flop”

NEW YORK (Reuters) – On Monday, 74-year-old Betty Tanguilig told her financial adviser to liquidate a $ 400,000 account and put all the proceeds into Facebook Inc IPO shares. Her adviser, Alan Haft, agreed to sell only $ 46,000 of the $ 400,000 account, one of several the retiree has. But at about 6:00 a.m. EDT Friday, Haft heard from his brokerage firm, E*Trade Financial Corp, that Tanguilig did not get any IPO shares. Tanguilig, a retired mother of eight, was furious. She has been on Facebook for many years and regularly logs in. “I had to have it,” she said. …

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