RE: I bought last week, by Lucky Dog
There is a joke about a three legged dog named Lucky,
Lucky Dog asks,
"So If I bought last week 5/19...."
Yes, you are entitled to forward split shares. The "deadline"
for buying was before or on Friday, May 20, 2005, last Friday.
Bill Due date was yesterday, May 25, 2005, Wednesday.
Your forward split shares are now officially overdue. Per
SEC regulations, you are entitled to place a demand for
settlement, sometimes called a "demand buyin" which places
you on record as having "demanded" all brokers involved
in your transaction are to settle, otherwords provide you
with your forward split shares.
A company, GLUV, releasing news to not trade shares, a
company making a mistake, does not preempt SEC rules.
Companies, brokers, Wall Street in general, cannot elect
to follow or not follow SEC rules at whim and wish. They
rarely follow rules, but that does not nullify rules.
Regulations require settlement within three days for all
transactions, which includes providing shares and providing
funds, both for either buy or sell. Note, those are three
business days, not calendar days.
One or more brokers are currently in violation of SEC rules
with their not having provided your forward split shares.
I urge you to contact your broker and insist a demand for
settlement be placed for your account.
Doing so is your right and in keeping with SEC regulations.
Do so, or resign to allowing Wall Street to screw you.
Purl Gurl
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