Nasdaq OMX Group sought Tuesday to dismiss a lawsuit brought by investors and trading firms who assert that the exchange mismanaged the Facebook stock-market debut.

In a motion filed with the US District Court for the Southern District of New York, Nasdaq argued that its role as a market regulator shields the exchange from legal action over trading losses.

Exchange argues it is shielded from investors' suit over losses on trading debut

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Nasdaq seeks dismissal of Facebook suit

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