UBS Will Sue Nasdaq To Recover Losses From Facebook Deal-CNBC

CNBC's Maria Bartiromo reports that UBS meant to buy only 10 million Facebook (NYSE: FB) shares, but it ended up buying 40 million shares of Facebook. UBS tried to dispose of Facebook shares responsibility, and not dump the unwanted shares immediately.

The UBS team is saying that Nasdaq is responsible for the $350 million loss and UBS is looking to recoup all of it.