MY broker always takes a full day at leastto do the reorgs - There have been a few times i got them before open of the day of the change but thatis the exception and not the rule
Depends on what you mean by 'illegal'. Did the company file amended Articles of Incorporation in Nevada? If not, that's a violation of Nevada law. Did the company issue a false and misleading news release last week touting a split to be effective on Monday? That would be a violation of Federal law.