Scottrade says it may be a few days before ABBV distribution will hit my wife's account. Anyone else having an issue with not receiving their ABBV shares yet, whether at Scottrade or elsewhere?
Everyone is in the same boat. You should complain as this is not right. We are all 100% exposed here should ABBV tank or even just slowly bleed. How do you set a stop loss on shares that you are entitled to but cant touch?
K just had a chat with sharebuilder and they said that ABT has not released the shares to my account. They claim that its ABT call and that it will be in my account on 1/7. How would abbv shares be trading if that is the case?
Everyone is NOT in the same boat. I own ABT in an account at Fidelity and my ABBV distributed shares hit that account yesterday. Seems unlikely that Compushare Trust Company (the distribution agent) would distribute shares to some brokers and not to others.
You can trade them by phone. They say they still haven't rec'd them yet, but you can trade by phone if you accept the risk of having to buy them back to cover the trade if the deal collapses and you never get the distribution.
No ABBV shares in my Scottrade account as of 1/4. I may be wrong in thinking this, but my impression is that this is mainly a problem at Scottrade as I ran into the same thing in the past with spin-offs from Conoco Phillips and Verizon. Folks with accounts at Fidelity, TD Ameritrade, E-Trade, etc. were posting that the spin-off shares were in their accounts, while those of us with Scottrade were left high and dry for several extra days. Very annoying.
Also no satisfaction with sharebuilder! I have contacted them twice, once before (1/2), contacting computershare and once after (1/3). They claim they were resolving the issue and would send a message to my e-mail account today (1/4). Well no entry for ABBV and no E-mail! I have searched ABT's website looking for the typical boiler plate disclaimer about transferring stock and have not found anything. I can't believe that they are withing their rights to withhold the distribution on stock in a timely fashion. I have started looking at the useless SEC's website to see how to file a complaint!