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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: hoffy who wrote (35131)	12/28/1998 6:41:00 PM
From: ayahuasca	Read Replies (1) of 119973

Question for anyone. I had an issue today with my broker (DLJ) and i am wondering if I have any recourse. at around noon I put a limit order for IFLYW at 6. It was running and a few minutes later I upped my bid to 6-3/8. At the time it was trading at 6-7/16 x 6 1/2. I then went offline to do something and came back online about 20 minutes later. I checked my inbox and saw the trade confirmation. When I opened it up it said I had bought my shares at 3-1/4! I then went and looked at my executed trades on DLJ and it also showed 3-1/4. That would have been great but I wanted to make sure it was right, so I called DLJ. The rep looked into it and confirmed it was an erroneous trade and that my order was actually filled at 6-3/8. That was fine b/c that was the way it should have been. I logged off again and didnt get back on for about 45 minutes. When I did come back online I saw the Erroneous Report email in my inbox. I opened it up and instead of saying that my order was filled at 6-3/8, which is what I was told, it said that my order was still open. Of course by this time IFLYW was over 8 and going up. I was very pissed. If I had been told that my order didnt fill I would have bought it at 6-13/16 or whatever it was when I was investigating the 3-1/4 report. So I called DLJ again and was told that there was nothing they could do. I couldnt believe it. Apparently, IFLYW never came back down to 6-3/8 and therefore the MM's had no obligation to fill my order. Fine, but my beef is with DLJ who gave me the wrong information. They claim they were just reporting the info as it came back from the MM and they have no way of correcting this trade. Just doesnt seem right to me to tell me so long after the fact that my trade did not fill, especially because they told me it did. Does this seem right to anybody? Does anyone think I have a legit complaint here? TIA for anything anyone can tell me.

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