Do I have a case against INET or Cybertrader?

Quote from stockhero:

Can they do that? sounds like BS to me. My question is should my gripe be with Cybertrader, whose platform accepted and executed the order without a problem or INET?
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That is complete BS. Who knows where ERTS starts trading? We only know it is a good trade after the fact. If the other person is not smart enough to pull their limit order during a halt, then it is their own fault. Your price is legitimate since you have the closing price, you have 46, and you have your trade in between. There is no room for argument here - they cannot bust that.

However, INET is the final arbiter and they can do whatever they feel like in these situations. It doesn't surprise me at all that they threatened to bust even though there is no way in hell that that trade should be even considered to be bustable.
 
I used to play that type of trade all the time in 98-00. There was always some poor fool whos limit order wasn't cancelled when the stock opened sometimes $5-10 away from the old market. I never had the trade busted, but these days it could be different.
 
That bid came from INET (not the broker), and INET honored it when the stock started trading again. Nothing to do with the trading platform.

Then someone asked INET to bust it, so CyberTrader called you to let you know. Simply really.
 
HALT TIME for ERTS

_5/3/2005_
_16:03:39_pm EST
_T3_

resume trading time for ERTS
_5/3/2005_
_16:30:00_pm EST

sorry you got hurt ... it happens ...

you had a chance to scratch or make $100
before the halt .... as it traded slightly higher
after your buy.

the T+S I looked at showed very few trades
maybe totalling 1200 shares or less of ERTS
just after the re open in your price area
before they all went sub $48

perhaps all those prints were busted like yours

in any case ... I find it hard to believe you
would have been able to sell your
100 shares just after the re open like that

good luck in the future ...
 
The poster who stated that you can't sue anyone is completely correct. Disclaimers are always signed for this reason. INET would have been the one to bust the trade. I would ask the exact time at which Isand took the trade. I would think that you still have a very strong arguement that the trade is yours.
 
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