By Brett Philbin
Of DOW JONES NEWSWIRES
NEW YORK -(Dow Jones)- Morgan Stanley (MS) has a number of Facebook Inc. (FB) orders submitted by financial advisers for its brokerage clients on Friday that "remain unexecuted," according to people familiar with the situation.
On Friday, Facebook's market debut was marred by trading glitches by the Nasdaq OMX Group Inc. (NDAQ), which delayed the start of trading in the social networking company by 30 minutes. In addition, many clients were left with orders that were processed improperly.
In the internal memo Monday, Morgan Stanley told advisers of its brokerage joint venture, Morgan Stanley Smith Barney, that the company expects to "be able to obtain and process execution for those trades today."
A Morgan Stanley spokeswoman declined to comment.
Shares of Facebook plunged on Monday, falling 12.3% to $33.53.
-By Brett Philbin, Dow Jones Newswires; 212-416-2173; firstname.lastname@example.org
(END) Dow Jones Newswires
May 21, 2012 11:10 ET (15:10 GMT)
Copyright (c) 2012 Dow Jones & Company, Inc.