LOL!!! Some internal 3yr Law student @ Ameritrade could draft that memo. But in a Court of law it doesn't hold water.
This is not going to a court of law. It's going to an arbitration panel. Different standards.
What if I was a real estate broker...And I bought a house from you, let's say after you deposited my check...your bank tells you that after 30 days we'll have to wait for the check to clear....ok no problem which it does. Great! you can go withdraw the funds from a transaction that was proper under all guidelines. Unfortunately, the bank turns around and tells you "it's our internal policy not to release funds because we don't know for sure,,but we could have a hunch that the seller overpaid you and we aren't releasing the funds"
To take your example, if you buy a house it is done through an escrow agreement. If it turns out that there is substantial question about whether your check is good (certified or not, normal clearing time or not), then the escrow will not close. It is not a question of whether anyone overpaid; it's a question of good funds. Likewise, in the case of GVRP it's a question of "good stock".
I hope that the stock is "good", as I'm sure you do. I like profits as much as you do. But in this case it is not a certainty that the stock is "good". And, thus, Ameritrade doesn't want to be on the hook.
AI
