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Gold/Mining/Energy : Versus Technologies Inc. (Canada) IPO
V 331.11+1.2%Dec 5 4:00 PM EST
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To: Ron Schier who wrote ()5/30/2000
From: Digital-Fluid.com  Read Replies (2) of 131
 
Has anybody else been ripped off by E*TRADE Canada in an IPO? I had an indication of interest for an IPO. E*TRADE then sent an email with the allocation, stating that "You may confirm your order, or request a reduction in your allocation, by reply email by no later...." Since I was unhappy with both the low number of shares and the high IPO price, I emailed them back cancelling my IPO order.

E*TRADE then violated securities regulations by buying the IPO anyway despite my cancellation before the deadline. After months of asking them to fix their error, they have still not done so. Their own CSR agreed with me, but their Compliance Department has been negligent in responding to my complaint. I finally got a call from somebody else claiming that I should have phoned E*TRADE to cancel, but their own email never stated so.

What should I do next? Should I contact the Ontario Securities Commission or Investment Dealers Association to force E*TRADE to fix their error?
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