I think this stock was one where some small time crook made off with several thousand dollars.
From what I know, one of these brokers allowed shares to be traded when they were not there to be traded. They were sold naked. No certs to back them up.
So the company demanded to have certs. It is the brokers responsibility to find them and provide the information to the Transfer agent. They could not provided the proper documentation to the Transfer agent.
Or
The company sold shares with and never intended to round up as promised.
Now the we have a few choices...
- Call your broker and tell them to give you what you earned. If they say no, then close your account. Take satisfaction by punishing your broker.
- File complaint with SEC... I think we all need to file a complaint... This is easy and cheap.. enough folks do it they may put someone on it.
- File a lawsuit..
It will take someone with drive, willingness to pay, principle concerned, willing to fight the company, broker... to solve this one... IMO...
I applied for a cert but forgot it was in a roth so didn't want to do extra paperwork and alos cause zecco still "xy" deal and still original 100 shares... I'm going to file SEC complaint.... That's all we can really do... my advisor says we should take complaint route first anyway... a judge would asked if you tried to work this (waste of my time problem) throught proper channels...
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