SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Pump's daily trading recs, emphasis on short selling
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Deeber who wrote (5286)8/20/2001 6:44:12 PM
From: Michail Shadkin  Read Replies (1) of 6873
 
Deeber - My thoughts on your PNSO situation

I personally think you have a very poor case.

You were boxed PNSO.
Your long shares were split incorrectly (basically twice, meaning 2 different 26 for 1 splits)

You tried to capitalize on a clerical error.
I am sure you have signed an agreement when opening an account that covers clerical errors.

No arbitrator will rule that you didnt know what was going on after having an extra 50k shares in your account all of a sudden.

You were probably speaking to some rookie broker that made a mistake in his conclusions.
You then proceeded to dump your new found shares and claim your prize. (btw, what was the rush. you should have slowly sold them in tiny lots over numerous weeks and got $3 instead of driving it to $2)

My advise:
Hire an attorney who specializes in securities law and try to settle this case without going to arbitration.
You will have to pay at least 33%, maybe 40% of your settlement to the lawyer.

Arbitration is very tricky and very unpredictable.
Settle fast and move on is my advise.

In my eyes, the fact that they took their time and some rookie made an error in judgement is irrelevant.
The final result was proper accounting for the split and in the end that is the most important point.

Best of luck to you.
Michail
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News