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.
Financial Markets and Services Attorney
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.