Anviron Holding Company (fka ANVH)

[beerclark]

I have a Scottrade account and I received the dividend on 3/31/09

They took it out of the account on 4/24/09 with the description "ANVIRON HOLDING COMPANY COM CANCEL 03/31 DIVIDEND DUE TO NON- RECEIPT OF FUNDS PER AGENT"

Since we are on this subject, I did write Scottrade about the 'Lock' yesterday. Here is my email and below is their response.



I have the stock ANVH in my account.

I was notified of a Clearing Restriction and a "No But / No Sell" for this stock. In additiona, in "My Positions", ANVH is in paranthesis.

I know that this stock had alledgedly issued a dividend that was in my acount, then rescinded shortly thereafter. I also understand this action was beyond Scottrade's control.

Can you explain what is causing the restriction? Is it directly related to the dividend?

I did search the Scottrade website and I could not find details on Clearing Restrictions and No Buy/No Sell. So I would also like to know what would need to happen to lift the restrictions.

Lastly (if the answers to the above don't answer this), in the future, if I own a stock that becomes fully restricted. Is there any course of action I can take to liquidate the stock during the restriction? Or is the position simply considered $0 for value during the restriction?

Thanks in advance for any response.


----Their response------

Thank you for your e-mail.


ANVH is showing a pending dividend.While a security is undergoing a reorganization, including a name change, symbol change, dividend,merger, etc., the security will not be available for online trading. During this reorganization period, we ask that you contact your local Scottrade branch office for trading assistance on this security. You may obtain the telephone number through our online Branch Locator.


Scottrade will post the new shares or cash to your account once the new shares and/or cash has been received from the transfer agent.
Please let us know if you have further questions.

Sincerely,

John Carnemolla
National Service Center
Scottrade Inc.

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To me it reads like a generic answer to a lot of different types of questions.