ERHC Energy Inc (ERHE)

[nordicroots]

I'm not so sure it is just a matter of adjusting the number on everything to reflect the split ratio on the broker's side. In theory, yes I agree that it seems logical and would make the most sense, but as we continue to learn here the reality is often something different. For example, I had a few small open orders at different price levels (pre-split) with my broker (Fidelity) that were GTC and these were all placed with no restrictions on them (i.e., AON), yet when the split went into effect, rather than adjusting the price and share amount of the orders, the broker simply cancelled them all. I know this because I have it set up where they will deliver trade/order alerts to me on my phone and to my e-mail and I thought it odd that they would not just adjust them and maintain my place in line for a fill. If other brokers did the same with their customers, it might be that others were not alerted (or otherwise not aware) of their orders being cancelled like mine were.

The market makers are obligated to maintain an orderly market, but it could simply be that with out the same typical depth in their order book of open buy and sell orders (resulting from cancelled orders like mine and likely others), the market maker simply filled what was shown as valid open orders on their screens.