There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security; The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and The security is included on a list published by a self-regulatory organization (SRO).
I advise company's on how to deal with this kind of scenario. I have on my wall a letter from a bank telling me they are going to sue me when we put in motion to change T/A's, The lawyer clearly states in the letter that they are going to incur huge losses because they already sold the stock, and that since the change in the T/A was going to take a couple weeks, they were going to have to buy back in the open market to cover the T+3.