Swiss bank sued the U.S. high-tech Nasdaq stock market of "serious mismanagement" of the sale of shares, which lost SFr349m (£ 240m)

Swiss bank UBS lost SFr349m (£ 240m) in the flotation of Facebook continues and the U.S. high-tech Nasdaq stock market of "gross mismanagement" of the sale of shares.

loss, who led the investment banking division of UBS at a loss SF130m, came when UBS took too many orders for shares of Facebook in the Nasdaq system that s' crushed under the weight of the record IPO, or initial public offering (IPO), and was unable to process orders.

"market as a marker of one of the largest IPO in the history of the United States, which has received major orders from customers, including customers of our business management heritage. Because many failures by operational orders Nasdaq premarket UBS has not been confirmed for several houses after the action had commenced trading, "the bank said.

UBS, which has a new management team following the alleged unauthorized trading by Kweku Adoboli stand trial for fraud in September, disappointed the market with its second quarter earnings before taxes SFr951m. He revealed the largest bank in the international research on attempts to manipulate Libor, but unlike Barclays, has been fined for wrongdoing, but again said it was cooperating with authorities.

Sergio Ermotti, the new general manager, used to run the investment bank, insisted that "many other banks are involved" in the scandal of Libor. "It is very clear that UBS is not in the center" of attempts to manipulate the interest rate, Ermotti said.

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