I was invested in a company that underwent restructuring in 2010. This caused my stock to soar however when an attempt to sell my shares was made I was told that I could not sell until the restructuring process was over, however I still noticed stock action was taking place in shares sold and bought. When the process was over the company had done an extreme reverse stock split virtually leaving my shares worth only pennies. I understand that because of the age of these transactions nothing can probably be done but my question is was it legal for me to be barred by my brokerage agency in completing a trade during this time? The company is GBOE and I still have communications with my brokerage agency that took place during this time.
1 Answer from Attorneys
I am a securities attorney and I handle a wide variety of cases against securities broker-dealers. It sounds like something went wrong here, and you may have some options. Please give me a call to discuss.
Daniel Bakondi, Esq.
The Law Office of Daniel Bakondi
870 Market Street, Suite 1157
San Francisco CA 94102
IMPORTANT NOTICE: This communication may contain confidential information, privileged information, or attorney work product. If you are not the intended recipient or received this message in error, any use or distribution of this message is strictly prohibited and unlawful. Please notify the sender immediately, and delete this message. No attorney-client nor confidential relationship is created through this communication. Nothing communicated or provided constitutes legal advice nor a legal opinion unless it so specifies and written agreement for attorney services has been entered into. Attorney licensed in California only. Your issue may be time sensitive and may result in loss of rights if you do not act in time. Thank you.
Related Questions & Answers
Company equity In January the company I am working for started substituting half of... Asked 3/13/09, 10:53 am in United States Utah Investment Law