Hey guys,
My father sold 24 shares of LRCX at 641 on nasdaq almost a month ago with about 50% profit. He did it via a reputable broker of the biggest bank in my country(small EU nation) as he has done several times.
Now, he has some money so he never checked his transactional account after the trade was made and after he got a confirmation of the order and later trade invoice which was the same as always. Today, of all days, we(im his son) noticed that the money isn't there altough the date of the settlement was june 13th.
We called the bank where he has his trading and transactional account and they said the money hasnt arrived on the 13th or any later date. The brokerage of this bank where we will get the info isnt available during the weekend, so im just so nervous and would like you to help me or put me at ease at what might have happened here before we contact them asap on monday.
I don't think the money is still on the brokerage joint custodian account as he has no written agreement for the money to be left there and the contract on the invoice clearly states the settlement date is 13th and that the money will be trasnfered to his transactional account immediately after that.
Do you think there was a failure to deliver on the part of the seller? if so, he still owns the shares right? Why was there no notification of this from the brokerage which is otherwise top notch? How often do FTD happen in retail trade???
What else do you think could have happened. I might sound foolish but he(we – im his son) has traded enough with this brokerage and something like this has never happened before.
thanks so much
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