Reuters: Financial Services and Real Estate: UPDATE 1-Morgan Stanley making Facebook adjustments -source

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Morgan Stanley making Facebook adjustments -source May 24th 2012, 21:12 Thu May 24, 2012 5:12pm EDT May 24 (Reuters) - Morgan Stanley will adjust thousands of trades to ensure no limit orders will be filled at more than $43 a share for Facebook stock from last Friday's botched initial public offering, the firm told its brokers on Thursday, a person familiar with the call said. The source, a broker who could not speak for attribution, said the firm again insisted that the trading problems were Nasdaq-related. Andy Saperstein, head of the firm's Morgan Stanley Smith Barney unit, said the adjustments will likely be made on Friday, according to an adviser who listened to the call. Saperstein took no questions during the call, which started at 4 p.m. EDT (2000 GMT) and lasted about ten minutes, according to two advisers who listened to the call. He made no apology, and told brokers to follow procedure and go directly to their service manager if they had any outstanding issues, two advisers told Reuters.

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