ETRADE Sucks! Message Board

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Pastimes : ETRADE Sucks!

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To: Thomas Scharf who wrote (856)	11/17/1997 7:22:00 PM
From: Wesson72	of 3262

Doh! That ETrade! Do I have any recourse? Okay, granted, mergers are complicated for everyone involved. But Sheesh I think I spent as much time on the phone and on email trying to unwind my ATPX trades (formerly LUNN and TPG) as did the lawyers and investment bankers that managed the deal. (Sadly, I made a lot less money.) Ayway, do I have any recourse? ETrade reps confirmed by email and voice that a day trade on ATPX was good and closed at T+3. Several days later I received notification by e-message and voice that the "good" trade put me into a short position (which they had previously denied) and that they would buy me back in (still profitable, but not as rich as the original trade). Even worse... this "revised" trade resulted in a margin call... which they initially indicated was a clerical mistake... but then decided that it was only partially a clerical mistake and agreed to accept my check as soon as I can get it to them. I have not run the numbers yet, but I was several k richer before the confusion. Ugh, it is so difficult to make these people accountable for their mistakes. Any ideas? Greg

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