since the stock was halted on April 2017 and delisted from Nasdaq and never relisted on OTC. My broker at first said they wouldn’t charge short interest fees since the stock is halted.
But then they suddenly start charging “Stock Borrow Fee” ranging from $500-$700 every month since May 2017. My account is now on the negative since there has been the erosion of the account from short interest charged by the broker.
I cannot exit my position. I tried talking to my broker about finding a solution but they refused to help. I believe the next step is to find an attorney who will represent me during the arbitration or mediation proceedings with FINRA.
There are some critical facts missing from your facts: (1) Why are you asking for advice in mid-September 2019 about events that you say occurred in May 2017? There must be more than you are telling us.
(2) EXACTLY when did you short the security?
(3) EXACTLY when was the end date (the call date) of the short?
(4) EXACTLY when did you learn that the stock had been "delisted" from NASDAQ?
(5) EXACTLY when did your broker tell you no worries?
(6) EXACTLY when was the stock delisted?
(7) EXACTLY when did "they" start charging you interest on your short position?
(8) What was the price of the stock on the EXACT day you shorted it?
(9) What was the price of the stock when it was "delisted?'
(10) Who is your broker--the company, not the person? (And the clincher):
(11) Have you ever made any effort to find out whether (or where) the stock was RELISTED?
If you can provide answers to all questions I will try to answer your question; look me up.
