aw fer fucksakes;
KORE reversal of split
IB's records reveal that on March 4, 2010, your IB account purchased 500 shares of KORE @ $1.75. The company initially declared a 41 for 5 (8.2 for 1 stock split) forward split. This was processed into your account and you received an additional 3600 shares of KORE.
On March 5, you sold the position of 4100 shares at 0.40.
After the allocation was issued, IB received notification from the Depository that the split should have been 9.2 shares for 1.
The Depository took back the original allocation of 3600 shares indicating that there was interim accounting for the split. As you had sold the shares during the interim,the Depository declared that your account was not entitled to the additional shares.
On your behalf, IB has been protesting DTC on the removal of the shares. The status of this action now is that there is no indication from DTC that they will agree to resend the shares to your account.
Managament has reviewed this issue and at this time will not accept any liability for this issue as the decision was made at the Depositor, not IB to remove the shares.
Based on this, the 3600 shares which DTC has taken back will be removed from your account. Please manage any risk the resultant short position will create.
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