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Technology Stocks : JDS Uniphase (JDSU)
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To: Kent Rattey who wrote ()2/15/2000 11:13:00 PM
From: Michael Pogor  Read Replies (2) of 24042
 
Question re: OCLI acquisition.
I owned some OCLI shares, which of course are now converted to JDSU shares. However, I am having problems with understanding the mechanics of the conversion.
My broker, E-Trade Canada, has removed the OCLI shares from my portfolio, and I was told that it will take two weeks to receive the corresponding JDSU shares. Merrill Lynch is handling the conversion.
Because of this share removal, my equity position has decreased to a point where I have received a margin call! When I called to question this, I was basically told tough, but I had to cover the margin call. When I pointed out that the equity in my OCLI/JDSU more than covered the margin call, I was told that those shares were not available, so I needed to either cough up more money, or sell other shares!!!!

Am I missing something here? What is the procedure with other companies? What is my recourse?

Thanks for any help.

Mike Pogor
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