Arkait, there are really only two reasons to involve an attorney. 1. When all is said and done, you lose money, without having had an opportunity to at least recoup your origianal investment. 2 You are related to one.
I have been where you are at. Etrade was the first to suspend trading, and I sat on the side totally powerless just watching it free fall. So yes I do understand. In my case I was very fortunate, made a lot of money as a result of having to hold. Hope this is the same.
However I think you would find that as frustrateing as it my be, the only brokers to react properly were those who stopped trading early, as aresult of knowledge of a problem.
While it would seem that about the only time they pratice it, is when it is in their best interest. They do infact have a feduciary responsibility to protect their clients. Lets not kid each other, if we had lost everything, and found out after the fact that the brokers knew what was going on, and did nothing we would be mad as hell. And rightfully so.
Every darned broker out there should has suspended trading the moment they were advised by the
dtc that there was a problem. It is only my opinion, but I do believe that there are some MM's and brokers who believe, or at least think that they are above the law. Believe me, many a good little company has been broken behind MM manipulation. Only to prevent them from having to pay up. This time they found themselves in a slightly diferent position. They themselves had been the unknowing victems of fraud. And they played with it for months, trying to take advantage of the situation. It back fired.
So again to sue a broker for suspending tradeing, just an effort in futillity.
Good luck, and enjoy the ride.
Have fun,
AI
