Posted On: 05/14/2016 11:27:14 PM
Post# of 11039
I agree to some point. That applies to 99.9% of the cases and is what CRGP, COR, Nobilis, Darbie, Signature, and others expected.
It is not common to dump shares in the middle of a dividend distribution and much less common to do it during the distribution of a special dividend. But it happened here and there are rules set for it.
Most of the time there's no problem, use record date or ex-date and you'll get the same result. Not this time, because of the combination of factors. Or should I say combination of ineptitude.
SEC and FINRA only use Ex-date to prevent confusion.
Another thing, right or wrong, once FINRA declares an official Ex-date that's it, that's the date that is used. There have been cases where the rule was not followed or not well interpreted by FINRA (don't think it's CRGP's case) but FINRA's decision stands. In other words, there are rules, but FINRA's declaration (in the daily list) is the last word.
It is not common to dump shares in the middle of a dividend distribution and much less common to do it during the distribution of a special dividend. But it happened here and there are rules set for it.
Most of the time there's no problem, use record date or ex-date and you'll get the same result. Not this time, because of the combination of factors. Or should I say combination of ineptitude.
SEC and FINRA only use Ex-date to prevent confusion.
Another thing, right or wrong, once FINRA declares an official Ex-date that's it, that's the date that is used. There have been cases where the rule was not followed or not well interpreted by FINRA (don't think it's CRGP's case) but FINRA's decision stands. In other words, there are rules, but FINRA's declaration (in the daily list) is the last word.
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IMHO
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
