Geobio Energy (fka GBOE)

[Montana Wildhack]

While there were a couple of people who traded shares they didn't own, that is not the basis of the problem here. The problem is that Scottrade made an error and once the error was discovered trading was not halted. Other brokers and mm's who trusted that Scottrade was putting shares into the market because they held certs for those shares were unknowingly selling non-existent shares and those shares changed hands several times. It is my personal opinion that Scottrade was trying to manipulate the stock by getting a two day jump on trading it. It seems that Scott was the only broker selling this stock into the market that day.

When a company does a reverse split, the price reacts differently for every situation and some traders took a chance that the new shares were worth more than a half-penny. There was no way for them to have any idea that Scottrade made a mistake. Had trading been halted right away when the error was discovered your argument might be plausible but the fact that this was allowed to continue really indicates that Scottrade has no fear of FINRA or any other agency that is supposed to protect shareholders from either scam companies or mm's or brokers. My 18,181 post split shares are still locked in my scottrade account for no reason- I bought 100 million shares in August and didn't trade at all on the day of the error. Defend Scottrade's actions towards my account since you appear to be Roger Riney's nephew?