I'm sure you don't want to share your friend's name, but would you happen to have the attorney's contact info? I'm thinking it would save me time to use an attorney that is already dealing with the issue. Not sure if it's worth my time at all, but I'm contemplating doing something.
So the question is, if the truth is that the shares weren't in my account because they were loaned to shorts, do I have any recourse against TD? Or is this one of those disclosures I didn't bother to read?
Please post what you find out tomorrow. It's hard to determine if we have any recourse without knowing what happened.
Or perhaps it really was the short selling. I would really like to find out.
The fact that so many people were ok makes me think this was TD Ameritrades fault. Perhaps some were just slow getting the shares in the accounts after the change?
They said it was because they didn't have them back from the cusp # change, but it makes me wonder.
Thanks bidhitter88. I use TD Ameritrade. Prob not for much longer after this. Thanks for the tip, I'm starting to worry about the overall market though. I'll check them out nonetheless!
Yes please let us know. I called TD to sell and they said they didn't have the shares in my account. That was at around $4.50. By the time I had the shares, it was 2.80. It seems they owe me the difference. I watched this closely because I knew it could fall really quickly, but then I wasn't able to sell when the fall happened. Unbelievable!!
I tried to sell and couldn't and I did call my brokerage firm. They said they couldn't sell because the shares were not in my account. My out was 4.50 and when it hit I couldn't sell. Glad you were able to get out when you tried but realize that when people talk about a lawsuit, it is for that reason, not because of wild trading. I think most people here understand that OTC stocks have wild swings and you should be prepared for it. No need to be such a jerk.
I'm also with Ameritrade. They won't let me sell because they don't have the shares. They have to get the shares back with the new cusip. So frustrating! I just watched all of my profits disappear. I'm hoping I'm not at a loss, but it's getting close. They did tell me though that sometimes they get this kind of volatility when this happens. I feel like Adam F. times his article perfectly.
Adam F. is tweeting again. Does anyone know what he's talking about when he says given history, he doesn't trust management to be truthful? I just bought more today. I'm hoping he's wrong!
I'm wondering about that too. Ameritrade has the last trade at 2.35, down .45. They have the bid and ask at 2.65 and 2.66 though. Wonder what's up.