Guess What? Datek is pulling IPO shares of GS! I had received a chance to get 100 IPO shares of GS from Datek last tuesday. Of course, I said I'd love it. Yesterday (tuesday), 100 hundred shares were put into my Datek acct, at 53 a share, and no commission charge. Great, I'll keep this for my grandkids!
Today Datek calls, and informs me that GS did not give them any shares, as they had been promised, and further, that 129 brokers that were to receive IPO shares did not get any either. They would have to pull my shares, and credit my acct with $5300. I argued that seemed to be their problem if they didn't have the shares, but that there were plenty available on the open market, that they could purchase to fulfill their obligation to me. I was informed that they thought this to be illegal, but they would salve me with 20 free trades.
Has anyone had a similar experience with their broker, on any IPO shares they might have gotten? |
