Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies -- Ignore unavailable to you. Want to Upgrade?

To: AD who wrote (67609)	4/12/1999 6:42:00 AM
From: QuietWon	Read Replies (1) \| Respond to of 119973

Lawsuits against brokers: assistance needed Situation: (skip to #3 if you wish) 1. As many know, I've been in & out of the country and will be moving - in fact the movers will be here later this morning. 2. Need a broker in U.S. to look after the IRA / transfer, etc and going forward and to keep an eye on stock price movements. Not keen on "parrot" brokers. A broker found me. Paper traded a couple and have had the account up for a few months - was supposed to be leaving end of Feb. 3. (a) Recently, "broker" called leaving voice message (I was out of the country) saying "we're selling half position on ZZZZZZ". I call the next morning to check and find out it has NOT been sold. What recourse do I have? Can I sue the broker? The message is still on my voice mail. (b) A few weeks back, "broker" called leaving a voice message saying "we sold YYYYYYY". I had been on the phone that day with several people and by the time I got the message, it was a couple of hours later. It was taking profit. In light of (b), do I have a case for why "broker" did not sell in (a)? I have traded only about 5 companies with "broker", so is it reasonable to say that the event in (b) occuring could be construed as "practice" and it is safe for me to assume that ZZZZZZ was sold ? (c) On a third stock, I was actually around and had the real time level 2 data feed going. This stock jumped up about 15 - 20% in the first hour and half. I wanted to take profit and on the phone "broker" said was selling at X & 5/16. Turns out, when the slip comes a week and half later and I'm away, so call it 2 weeks, I see it was sold at X ie. got screwed for 5/16. Do I have recourse here? (d) recently, "broker" indicated hedge funds do trades at $100 commission upfront and then take 15% of the profits. I believe this is wrong and that it is a % of profits after some level of profitability is achieved - isn't the typical hedge fund something like 20% of the profits on the portion of the return over 20%? Having to check what I'm told on more than a few occasions, a new "broker" is needed. I put out the request/thought a while back to have some persons on SI trade my account - at least on SI, you know the 'regulars' are monitoring their stocks and other stocks. I'd appreciate if anyone could provide leads/links/lawyer names on lawsuits against brokers - if the lead is solid, state so. And if not solid, state so. ie. be direct & upfront -- most of us are pressed for time and for me it's been flight after flight, significant deals been assessed, having to complete tax returns in 5 jurisdictions, and just learning of the death of a close relative late yesterday, been awake for 27 hours now, I could use the time saving. Despite being awake and the death, it's not anger from that channelling to the 'broker' - I've had the thought about suing the broker prior to that point. Again, appreciate any help anyone can provide -- whether it's positive or negative - any feedback is better than none. Thx, I'll try to stop in late tonight or tomorrow - need a new ISP.