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Sorry, once again 100% wrong

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puppydotcom   Wednesday, 05/16/12 01:01:32 PM
Re: SevenTenEleven post# 200273
Post # of 219968 
Sorry, once again 100% wrong

2) he pays me a negotiated price to close out my position(s) he sold me.

the broker has ZERO responsibility to pay share holders anything on revoked stocks ...

The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock pursuant to Section 12(j) of the Exchange Act. Under Section 12(j), the SEC is authorized to revoke the registration of a security if it fails to comply with the federal securities laws. No broker-dealer may execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).


http://www.sec.gov/answers/dfnctco.htm

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