Schwab – Financial Treason & Crime

FRANK NEZ, 27 June 2021

Charles Schwab has raised margin requirements for short sellers shorting AMC and GME stock. The broker is adjusting 100% margin requirements for AMC on all long positions, and 200% on short term positions.

As for GameStop, the margin requirement is 100% on all long positions and a whopping 300% on short term positions. Community, this is massive. It’s the time we’ve all been waiting for. Lets go over what all of this means. Continue reading “Article: Charles Schwab Raises Margin Requirements For AMC & GME Stock”

03/19/202104/17/2021

Article: Schwab Must Face Suit Over Short-Sell Trading Glitch

Article - Media, Publications

Schwab Must Face Suit Over Short-Sell Trading Glitch

Melissa Angell, 19 March 2021

A California federal judge ruled Friday that Charles Schwab & Co. must face a proposed class action brought by one of its retail customers challenging an alleged bug in its trading system that prevented the customer from exiting his short position.

U.S. Magistrate Judge Laurel Beeler wrote in her 14-page order that Robert Wright adequately stated a breach of contract claim, finding that factual issues about Schwab’s control of the alleged glitch and Wright’s reaction to the incident preclude dismissal. Continue reading “Article: Schwab Must Face Suit Over Short-Sell Trading Glitch”

02/25/2021

Lawyer: Charles R. Schwab

People, Subject of Interest

Charles Robert Schwab (born July 29, 1937) is an American investor and financial executive. He is the founder and chairman of the Charles Schwab Corporation. He pioneered discount sales of equity securities starting in 1975. His company became by far the largest discount securities dealer in the United States. He retired as CEO in 2008, but remains chairman and is the largest shareholder..

As of February 2017, his net worth is estimated by Forbes to be $8.2 billion, making him 76th richest man on the Forbes 400. Continue reading “Lawyer: Charles R. Schwab”

02/10/202104/17/2021

Article: Robinhood Users Face Uphill Fight For TRO In GameStop Suit

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Robinhood Users Face Uphill Fight For TRO In GameStop Suit

Craig Clough, 10 February 2021

A California federal judge indicated Wednesday that she is unlikely to issue a temporary restraining order or preliminary injunction against Robinhood Financial LLC to prevent it from blocking specific transactions on volatile stocks after a user suing the company said the online trading platform’s recent actions were “unprecedented.”

The lawsuit before U.S. District Judge Virginia Phillips is one of more than 30 civil suits Robinhood is facing over its decision late last month to block users from buying shares of GameStop, AMC and other volatile stocks recently caught up in a well-publicized trading frenzy. Continue reading “Article: Robinhood Users Face Uphill Fight For TRO In GameStop Suit”

06/10/201303/23/2021

Article: SEC fines optionsXpress, individuals $4.8 million for naked short sales

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SEC fines optionsXpress, individuals $4.8 million for naked short sales

Reuters Staff, 10 June 2013

NEW YORK (Reuters) – A Securities and Exchange Commission judge has ordered optionsXpress, its former chief financial officer and a customer to pay a total of $4.8 million in fines and to return $4.2 million for illegally selling shares they did not hold.

The order was posted late Friday on the SEC’s website.

A lawyer for Charles Schwab Corp, which bought optionsXpress in 2011 after the alleged violations occurred, said that optionsXpress “respectfully disagrees” with the ruling and is considering an appeal.

“There was no naked short selling in this case,” Stephen Senderowitz, a lawyer representing optionsXpress, said in an email to Reuters.

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