E*Trade Loses Red Hat IPO Arbitration Claim 119
mrsam writes: "I was one of the many people who, about a year ago, was picked for Red Hat's
directed share program in their IPO.
Soon thereafter the underwriter, E*Trade,
kicked me out of the program without giving a good reason.
Believing my dismissal to be completely unjustified and without merit,
I filed a claim against E*Trade pursuant to NASD arbitration rules.
For all practical matters, I sued them. A NASD arbitration claim is basically
an expedited lawsuit.
I am pleased to report that I have won my claim. I won damages AND
legal fees. I have put up the arbitration panel's decision, plus some juicy
stuff that my legal eagles have obtained during the discovery process, at
http://www.geocities.com/~mrsam/etrouble/hearing.html. The whole story, from start to finish,
is at
http://www.geocities.com/~mrsam/etrouble/."