Facebook (Scott Beale/Creative Commons)

A computer malfunction delayed Facebook's IPO by 30 minutes last Friday and many client orders were delayed. Two firms claim that they have lost between $60 million and $70 million because of Nasdaq's delay in getting orders through its system.

Knight Capital, one of the major traders on Facebook's opening day, estimated its losses between $30 million to $35 million, according to Reuters. Citadel Securities projected losses within the same range.

Some predict that the glitch could erode investors' trust in the stock market, which has been shaky since the financial crisis.

"This is clearly the latest in a long string of events that is eviscerating the confidence investors have in the market," Chicago attorney Andrew Stoltmann said in The Washington Post. "The perception is Wall Street jiggered this IPO so the underwriters made money, Facebook executives made money and the small investor got left holding the bag."

Court cases stemming from the botched IPO have already poured in.

Class-action firms including Robbins Geller Rudman & Dowd and Hagens Berman have sued on behalf of clients against Facebook, according to Reuters. The suits claim that analysts who work for Morgan Stanley allegedly misled investors about the true value of Facebook.

Reuters reported that Fidelity Investments and Charles Schwab Corp. are working to resolve customer problems.

"We've addressed many of the client issues resulting from Nasdaq's problems last Friday, and we are working to resolve any remaining problems as quickly as possible," Schwab spokesman Michael Cianfrocca said.

Facebook stock closed at $31.91 per share on Friday after opening at $38 last week.

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