PR Newswire
An Internet investor, Ashok Aneja, today filed an arbitration with the National Association of Securities Dealers against Web Street Securities, Inc. alleging that they failed to timely execute his market orders to sell securities at the opening bell on Monday, November 30, 1998, causing substantial losses. When Mr. Aneja discovered the mistake he immediately contacted […]
CNBC
The flood of trading at online broker E*Trade Group Inc. slowed to a trickle again Thursday, as technical glitches prevented customers from buying and selling shares for the second straight day. The outage was not just damaging for E*Trade though, as it focused renewed attention on the reliability of the Web as conduit for stock […]
Washington Post
Thousands of customers of E-Trade Group were frozen out of the stock market during peak trading hours this morning, when the start-up trading house that rode technology to become a major player in the securities business was frozen by a software glitch. At 10:15 a.m., customers trying to buy and sell stocks online and through […]
Newsday
STRATTON OAKMONT, a large penny stock “boiler room” operation formerly based in Lake Success, left a trail of wreckage behind when regulators closed it for fraud in December, 1996. That wreckage has just begun to surface in court documents and reports as regulators and a bankruptcy trustee work to untangle the mess. Newsday earlier this […]
Unknown
Federal District Court Judge William Mathew Byrne, Jr. yesterday issued a ruling upholding the award of more than $700,000.00 in damages by an NASD arbitration panel. Susan Taus, a single mother of four, had filed her claim against Smith Barney and Prudential in September of 1997 alleging that they had breached their fiduciary duty to […]