MDNO is much less of a problem than GVRP was. Think of the highest mountain you have ever seen and the smallest ant hill. GVRP is the mountain and MDNO is the ant hill. The reason you should study and understand GVRP is so that you are prepared for less than a fair settlement here. No one says just because you are right you will receive ONE penny for your stock. Tomorrow the SEC could suspend this and invoke the Net Capital rule "for mistakes that have been made to date" and note that any future trades would not be covered by the Net Capital rule. If they were to do that kiss your money good bye.
Being RIGHT only matters in a Market place that has INTEGRITY - The US is the MOST CORRUPT marketplace in the world.
This should allow for a fair settlement with MDNO.
Then again, it would likely cost ST millions of dollars to cover 1M shares of a stock with an OS of 1.2M
ST was the most BLATANT broker in regards to GVRP.
They sent unrequested paper certificates out to wash their hands of the risk. Of course they would never except those back! No other brokers did this.
They also sent a letter trying to coerce those with retirement accounts. Others who had GVRP with a different broker never received these letters.
Just be prepared for ST to do whatever they can to try to avoid paying a nickel out. One has already seen this with the lawsuit IMO.
The one good thing you have going for you is other brokers on the other side.
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.
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