"FAB Universal Board Announces Engagement of FTI Consulting by Loeb & Loeb to undertake Independent Investigation"
What it was changed to after viewing the report:
"FAB PROVIDES UPDATE ON INTERNAL INVESTIGATION"
This report must really be bad for them to change their mind and not make it an independent report where the details (good or bad) would be released regardless of the company's wishes. That is what an INDEPENDENT report is. After viewing it, they have made it an internal report and have only released a "summary" that is a real farce.
Their incompetence is amazing. The NYSE finally got it right, but it sure took them long enough:
"because the Company or its management have engaged in operations which, in the opinion of the Exchange, are contrary to the public interest. In reaching its decision, Staff considered Section 1009(a) of the Company Guide which states that it is necessary and appropriate for the protection of investors to immediately suspend trading in the Company’s Common Stock."
IBCB...am asking fo your expert opinion. I had a buy limit for my #$%$ short at $2 back on 7/16. I was never notified by Scottrade that the symbol changed when it started trading on 8/12, or that my buy order was cancelled, likely due to the new symbol. Luckily, I noticed on Wed., and bought it back at $1.28. However, I saw that it traded most of Tues. at $1. Do you feel that I would have any recourse with them regarding the difference...which would be about $500? Thanks.
= Do you feel that I would have any recourse with them
No. It is up to you to keep on top of your orders and they were justified in canceling your other order which was based on a security trading on a regulated exchange. You are not guaranteed a "best fill" on the Grey Market. You are lucky they canceled your order and didn't fill it at $2 which they could have done.
No recourse...scottrade was down half the day Tuesday anyway...
Woulda had to call to place an order anyways..
I know because I had a buy order in when they shut down..
And wondered half the day if it got filled..it did not..