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Strategies & Market Trends : Value Investing

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From: Grommit	9/13/2012 1:47:42 PM
	Read Replies (2) of 78744

ETrade Problem! This is a bunch of crap. They tell me that I have no options here. I sold CDR-A in a number of accounts on Sept 11. After the close on the same day CDR announced a partial redemption of the shares. Etrade did not put a hold on the trades pending reorganization or anything. And I also sold a few shares on Sept 12. Now they want me to cover the shares being redeemed, even for the shares that I sold before the redemption was announced. . They say that the accounts are short and the margin dept will cover them tonight. WHAT? And this includes IRA accounts that have no cash because I've already bought other things with the funds. They say they will cancel CDR-A trades out in the IRA account because they cannot be on margin. Not sure what that meanst, but I am told not to worry. ??? And we are talking over 5,000 shares here -- my shares and those of a some relatives and friends. ETrade says they will make all accounts whole and cover the price diff in the trades, margin fees and whatnot, but what a bunch of crap. Have you ever heard of such a screw up?

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