Help need advice on a major stock deal.

[mcgiveradio142]

What is the name of your state (only U.S. law)? New Jersey

I bought stock on sharebuilder.com and they listed it for 0.0007. I purchased 10,000 shares for a total of $7.00 plus $9.95. The problem is that the actual price of the stock was $9.00 and now my trade account is negative 90 grand. My question to you is if the stock is still showing at the price I purchased it. Do I owe that money or do they have to honor the price I paid.

 

[Zigner]

What did Sharebuilder.com say when you asked them?

 

[Some Random Guy]

It all depends on the account agreement with sharebuilder and the actual terms of your order. If it was an open market order, then you got the best price available for a block of 10,000 shares. Unless you have $90K in your checking account and can wire it over immediately, I suggest calling ING immediately and see what can be done.

Don't be surprised if your account is permanently suspended.

 

[mcgiveradio142]

I called and they said it was an error in their system and they are trying to fix the problem.
The screen where i look at the stocks still says that it is .0007 a shair and that i have 7 dollars worth. When I bought it it was a total of 7 dollars and the order processed for that not 90,000 only until the order went through did it show that amount. I don't understand how a glitch in their system is my fault.

 

[andresberger]

I would think you were ok because of the glitch in their systems, however expect that 10K block of shares that you only paid $7 for to probably be reversed.