Replies to post #56787 on The Golden Lounge

[Rager]

Ameritrades treatment of customers is...
appalling, their "scare tactics" earlier in the week that those who sold after the F/S of GVRP could be caught in a short position was just wrong.

I sold half my shares Monday, I felt I did nothing wrong (except sell them all). The funds were shown as cleared as normal yesterday. however any trades I tried to place with
these funds turned up canceled after awhile. with no notice, nothing. I wrote a complaint to the SEC this morning. no reply yet.
I was surprised to find an email just now from Ameritrade
informing me of the trading halt.
Due to this action taken by the SEC, Ameritrade has placed restrictions on accounts that recently held or hold this security. Until such time as a determination is made by the SEC.

Well thats just fine and dandy, however there was no legal reason for them to do this yesterday.

Note to OCSecurities...
please expedite online access I have 4 accounts I need to transfer.... TIA

[njnorm]

where have you been?

They told us we could sell saying they had certs in street name and encouraged us to sell but stopped buying cold.

Then they say ...well remember you may be short but they never let anyone cover who had sold.

Would you use a broker like that?

[Susie924]

Ameritrade sure scared me into not selling!

After speaking with someone late Monday at Ameritrade about an hour before the close, I was assured that the shares were mine to sell so I put an order in to sell some. I wasn't filled.

It seems as if they changed their tune on Tuesday and anyone that sold was told that they may be short the shares.

I am glad that I wasn't able to sell because I would have been a nervous wreck all week but it just seems odd that the shares were there (at least electronically) and I couldn't sell them.

At least My Track wouldn't allow buys or sells right from the beginning and then they removed all temptation by removing the shares.

The whole think is screwy.

[Mr. Bill]

ergo, you are full of it. AT sucked. They would answer every question ambiguously. No straight answers. To tell someone they can trade, and then on the very same call, say well 2M got traded but you might have a problem, you might be short. Want to trade the rest of the 100M or no. Come on. Horrible customer service. Even the manager of the reorg department suggested to me that "some banks would let you write a $99,000 check while waiting for the $100,000 check to clear if you only had $1,000 additional cash in the account". Really? I know of no banks that do that.

[Jim Bishop]

Quite simply... you can sell, no problem...ooops you sold..sorry now you're short and on the hook..sorry again, you can't cover through us....read the fine print.

[Rocketred]

Lots clients could sell shares possiblly short but not cover them.

But I think they already New Company was increasing Authorized Shares like TD Canada to cover every position sold thats why they said you could sell shares but not buy them back