Brokers owe a lot of us money. First, most, if not all of you spoke to a simple branch manager...if you got that high. Well, they are all very well schooled to simply say NO WAY can we help you get any of your money back(they are in the bussines of taking all the money they can from us...not to give us money back....LOL). And with that, most all just give up.
I spoke with my lawyer today and he read the SEC order letter dated July, 13th that was received by all brokers prior to market open. It,s like he said to me: Randy you know that the brokers did not pay out a whole lot of yours and your friends money to secure that stock because it plainly states in the SEC order that they not do so. He said that the SEC order to them says that they are not to buy, sell, or in any other manner do anything to go forward with the FNLH stock....that includes that they are not to complete any type of transactions/payments to ANYONE for the stocks(that had not already settled and been paid)-the brokers are attepting to keep a lot of you and your friends monies because by SEC order, they could not even pay it out on Tues. the 13th....and you know these brokers pay noone til they absolutly have to....LOL.
My lawyer said we all should put togather a fund (small amount of money each) and hire a SEC schooled lawyer to compose a letter for each of us to present to our brokers. He said that in his opinion he would be willing to bet that with that letter to each of our brokers would get us our money back....the monies that had not had the legal amount of time to settle that is.
In my lawyers opinion anyone who bought on Friday the 9th (T=trade day)and Monday, the 12th(=T+1) did not have their money taken from their account and paid out to any place....they(our brokers) still have our money.....THEY WERE ORDERED BY SEC NOT TO PAY IT OUT. IMO.
Thoughts anyone???
AI
