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IPO purchase opportunity is denied by the stock broker

Seattle, WA |

Hello,

I was trying to place a conditional purchase offer for an IPO. Charles Schwab i smy broker. As per the discussion I had with their associates, I met all the criteria to participate in this particular IPO purchase.

When I tried for placing a standing order from their website, it denied saying that I am not eligible and did not give any specific reason why I am not eligible.

I would like to consult an attorney as I strongly believe that they unfairly denied my purchase request.

Attorney Answers 1


  1. Dear Sir or Madam,

    Do you have any damages? Has the stock started trading? Is it trading higher than the buy in price? Generally, for a breach of contract case, one has to "mitigate your damages." What that means is that you may have to purchase the stock after a reasonable period of time and sue based on the difference in price of where you could have bought in and where you did buy in. There is a lot of information that has not been provided.

    Regards,

    Andrew

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