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To everyone that has posted about their E-trade problems please repost or e-mail me a brief synopsis of how you were wronged and the amount of damages that you think you are due, you may be eligible for a treble (triple) damage award.
what to do with e-trade?
i have around 150 people that i have been in contact with regarding e-trade, i am not an attorney, however, i have lost thousands of dollars due to e-trades inability to follow thru on their contractual obligation of clearing my trades in a timely fashion.
after further discussion with a personal injury lawyer we have determined that a class action suit is probably not the best route for us to go. the reason for this is that a class action suit would automatically include everyone that has ever traded with e-trade whether or not that person realized they suffered any damages. a class action suit would therefore dilute any restitution that we would be entitled to. a class action suit would be much easier for e-trade to defend also due to the fact that it is one suit with a common dipsute among all of the participants, with only one suit coming at e-trade they would only have to do discovery one time and that would be it.
the route to go is to take all of our claims to my attorney (he works on contingency basis) and let him file 200 seperate claims against e-trade. for e-trade this is a nightmare, now they have 200 suits, 200 discoveries to do etc, etc. if we can prove that e-trade failed to live up to their contractual obligation of performing the duties of a broker in a timely fashion, executing trades, filling orders, getting the best price, reporting confirmations in a timely fashion, keeping accurate account records, etc. etc. and we could also prove that they were aware that this was going on, ALL of us would be eligible for treble (triple) damages. for example if your claim for damages is $10,000 you would be automatically awarded $30,000.
if you wold like to have my attorney process your claim along with the other 200 claims he is working on please e-mail me an accounting of your damages that you suffered because of e-trades inept management, trade execution, incorrect account status reporting or what ever they did that you feel they should be held accountable for. please include a name, phone number, and dollar amount of your claim.
for those of you that had previously posted your e-trade problems here under the class action thread, i am sorry to ask you to repost or e-mail, however, i thought i would always be able to retrieve those posts, this is my fault, this time as the posts are recorded i will forward those on to the attorney. this attorney is one of the best in the country, they are located in dallas, texas. they already have around 30 of the value jet families as clients and typically they will only take on high profile cases, so if you want your damages, please repost your info or e-mail me.
blaine flaherty
kblaine@ix.netcom.com
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