To: SgtPepper who wrote (12166 ) 6/6/1999 9:38:00 PM From: * Thumper * Read Replies (2) | Respond to of 13776
Hi Folks, I just posted the following over on Kim's thread & wanted to post it here also, in case someone here knew anything about this. Thanks in advance, Thumper :-) I could use some advice or help regarding the former stock Enterprise, Inc which named changed into EHLC (ehealth) & did a 3 for 1 forward split. I bought 200 shares at around $5 pre-split & then sold the post-split 600 shares a few days later. From that point on, Waterhose has been showing it on my account as a something like a short position. For weeks now, I keep calling their reorganization dept. to get the lowdown on where the new shares are. They just kept telling me that the transfer agent had not issued them yet. Now Friday when I spoke with them they tell me that the 3 to 1 forward split has been canceled & I OWE waterhose 600 shares of EHLC!!! Can this be true??? When I sold those shares it had to be done through a broker who in turn put me on hold while he verified that I was, in fact, entitled to sell 600 shares & he placed & excuted the order. This is going to end up being one helluva mess as the reorg. dept says that there are a lot of people now in my same position & their going to have to notify everyone involved that they OWE Waterhose money!!!!! Has anyone ever gone through an experience like this??? If so, please advise me what to do. I told waterhose that BB's can't be shorted in the states & all they say is that it isn't technically a short position but rather an IOU. My argument is why did they let me sell those additional shares than, at a siginificantly lower price than what I bought them for & what about the MM's adjusting the price downward on the DOR for the forward split. Since the 3 for 1 forward split was cancelled, do we all go back to our original positions of owning what we bought pre-split??? I also asked them that if I accept responsibility for those 600 shares right now can I buy them today to settle the account & the bums said no. I have to wait till all the dust settles & buy the shares back when Waterhose gets a written cancellation for the forward split. In the meantime, there's nothing to stop the MM's driving the ask up. To make matters worse, Waterhose will not clear any of my checks written against the account as they claim if they do then I may not have enough liquidity to pay for the 600 shares. Who do I sue first???? Regards & many thanks, Thumper :-) P.s. Can everybody who is has anything to do with EHLC, PM me with how many shares you originally bought & with what brokerage. We may have to go after EHLC as a group. P.s.s Don't forget about how HUGE DDEQ is going to gap Monday morning & the strength it will have throughout the week IHMO.