WHAT LEGAL GROUNDS does Ameritrade have to freeze your funds! They may not have any obligation to allow sells or buys in said security,,,but what legal grounds do Ameritrade have to hold your funds!!!
While I am not a client of Ameritrade, I am assuming that their paperwork mirrors that of other brokerage firms. If so, they have broad discretion as regards your account. If you hire an attorney here, my hunch is that you will simply be out your attorney's fees. I can't imagine an arbitration panel not siding with Ameritrade on this one.
Ultimately Ameritrade is a discount broker. They don't care what you do as long as they make their $10-20 per trade. They surely do not want to see themselves on the hook for a lot of money in order to make twenty bucks. My suggestion is that, if this attitude bothers you, then you should get an account with Goldman Sachs. Goldman takes a different attitude with client accounts and charges accordingly.
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