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Technology Stocks : E*TRADE IPO Alert - Y2K and Beyond (EGRP) -- Ignore unavailable to you. Want to Upgrade?

To: Jim B who wrote (3587)	3/19/2000 1:21:00 PM
From: Gerald Walls	Respond to of 10270

I wouldn't nearly be as upset if they just simply stopped allocating shares to multiple accounts and instead allocated PER SOCIAL SECURITY # and ACCOUNT TYPE... 1 cash, 1 margin and 1 IRA per SS# can participate. I agree. IMHO it's a scam to open multiple accounts just to have a better chance at an IPO but there are various reasons that a person may want to segregate money, such as easier tracking of money intended for different uses. However, if they just go off and close my accounts and liquidate stocks I own.. and force me into a short-term tax bracket... and my family.. then I would think it's time to seek legal action... I have NO IDEA how to do it... but if I see a class action suit started.. I'm in. I don't think we're getting the whole story. Even if they do have some clause allowing them to close multiple accounts, which they can add at any time and your continued use of ETrade signifies your acceptance, there's no way* that they can make an unauthorized trade in your account. The most they'd be able to do is consolidate everything into one account or register the securities in your name and mail you the certificates. If they did either to me I'd leave, but since I don't have multiple accounts here I don't have to worry about it. You can bet, though, that this action was caused by whiners, just like the 50-share allotments and the Lottery method of refusing IPOs.