To: Douglas V. Fant who wrote (98 ) 12/3/1997 9:46:00 AM From: Bipin Prasad Respond to of 1848
Doug and all,Anybody else having so much fun with Ameritrade like I do ? I've been on hold for the past 10 mins to place one order. I called 10 mins before market opened because my online trading shows, " Non-standard strike price. Contact customer service." Market opened 1 min ago, I'm still on hold. Somebody answered the phone and transfered my call to somebody else and I'm on hold again. Let's see How Long It's Going To Take - 1 min so far, 2 min, Kris answered the phone and says she has to transfer my call to options uncovered again. That's what I started with over 23 mins ago. 2 more mins on hold. Steve picks up the phone. Now I placed one order. Market has been open 15 mins. So it took me over 25 mins to place one order. This one is from wsj regrding e trade, may be this is what I should do. Please send me email if any of you want to join me.: Investor's Suit Seeks to Force E*Trade to Increase Capacity By REBECCA BUCKMAN Dow Jones Newswires An investor filed a lawsuit against E*Trade Group Inc., alleging that the popular electronic brokerage firm can't handle the number of trade orders placed by its customers. The suit, which seeks class-action status, was filed late last month in California by a Washington state resident, Larry R. Cooper. He claims E*Trade's computer systems often get so jammed that he and other customers can't execute timely trade orders -- meaning they miss opportunities to buy or sell stock at certain prices. The system's problems were "particularly injurious" to Mr. Cooper and other customers during the heavy trading days of Oct. 27 and Oct. 28, when the stock market fell precipitously and then rebounded, the lawsuit says. The Dow Jones Industrial Average plunged a record 554 points on Oct. 27, only to rebound 337 points the next day. Mr. Cooper's suit seeks an injunction to prevent E*Trade from advertising or prospecting for new customer accounts until its systems are upgraded to "handle not only the trades of members of the Class, but any trades that result from the opening of new accounts," according to the Nov. 21 complaint. E*Trade said in a statement that is hasn't yet been served with the suit. But based on the company's preliminary understanding of the action, it doesn't think the company "has done anything improper" and intends to "defend this litigation vigorously," the Palo Alto, Calif., company said. E*Trade shares fell 3, or 11%, to close at 23 9/16 Tuesday on heavy Nasdaq Stock Market volume of 3.4 million shares, compared with average daily volume of about 1.7 million. regards, BPP(Bipin's partner)