"Ah..so this would be NITE/ETRF's final trump card..to get their brokers (TDA, Scottrade, ETrade) to stop trading it?"
No, it would be the brokers' response to being put into a highly invidious position by SRGE announcing a dividend which it then refused to fund.
Having to take money out of their customers' accounts shortly after putting it in is very embarrassing for them, and in some cases they may not be able to retrieve that money at all.
While the brokers are partly culpable for assuming SRGE would follow through on its commitment, they will place the majority of the blame on SRGE. To avoid any repetition the easiest way would be simpy to refuse to trade SRGE, or to canvass DTCC to put a global lock on SRGE.
Then it's good night, SRGE, for ever.
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