Question about lawsuit for broker

lasner said:
They are forcing you to sign the contract. Either sign their contract or don't do business with them.
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That's the norm in any business. Unless they are holding a gun to your head or holding your family hostage, you just walk away if you don't want to sign the contract to open an account.
 
destriero said:
No, it states that you may have reduced leverage. It's not Medicare, dump truck. There is no precedent and literally thousands of ppl sign those arbitration agreements daily.

Sue them. They'll put your account on "closing only" and every time you attempt to open an account you'll lie and state that you haven't been a party to legal action involving a broker. You'll have trouble opening a RH account... I love it.

Barry, owning the local RE office in Metuchen ain't the same thing.

Please hire that dude and let us know how it goes!
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Matlock, that's not what it states in my agreement. I know you're really really smart that's why you are on elite trader with over 10,000 posts. Oh no, oh my gosh, I'm so scared. What am I going to do. Matlock just informed me I won't be able to open another stock account. Oh my God Matlock.
 
And I'd wager that lasner did not declare his prior arbitration case when he opened the account.

Dude, you "own" a Coldwell Banker office in Metuchen. You don't have any ownership in a SEC-regulated brokerage.
 
lasner said:
No, because a lot of people don't understand their rights and don't understand business which is clearly evident by this post. The people posting on here are not business guys or finance guys, I can tell. If they were they would know that they have a case. And I'm sure most on here have experienced the same thing but just didn't know. Well now you know.
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It's not an issue of not knowing our rights. We KNOW our rights and we know they are crap and are negligent. The issue is the legal cost and time. Even with Small Claims, you have to consult a lawyer, gather everything, write and send by registered mail a demand letter without prejudice, go to a court to file the case, and then wait, and then go to the court, present everything and hope you win or the other party doesn't show up. For all those legal costs and time, we would've made $$'s if we had just moved on.

We are professional TRADERS here. Our job here is to trade and make money, not to go after brokers for whatever their crap is. We know they are crap, we just use their software to send orders for their cheap commissions. If we want impeccable service, we go for full-service brokers.

You want to teach people how to sue, you are in the wrong forum buddy.
 
JSOP said:
It's not an issue of not knowing our rights. We KNOW our rights and we know they are crap and are negligent. The issue is the legal cost and time. Even with Small Claims, you have to consult a lawyer, gather everything, write and send by registered mail a demand letter without prejudice, go to a court to file the case, and then wait, and then go to the court, present everything and hope you win or the other party doesn't show up. For all those legal costs and time, we would've made $$'s if we had just moved on.

We are professional TRADERS here. Our job here is to trade and make money, not to go after brokers for whatever their crap is. We know they are crap, we just use their software to send orders for their cheap commissions. If we want impeccable service, we go for full-service brokers.

You want to teach people how to sue, you are in the wrong forum buddy.
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Dude, you're a professional basket weaver.
 
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