Overstated account values and Shinsei Bank reverse split
September 28, 2017
We received a number of calls from clients who noticed their account values dramatically on Wednesday the 27th. Shinsei Bank is in the process of a 1-for-10 reverse stock split. Prices in the Schwab accounts reflect the new prices after the split; however, the quantity of shares has not yet been adjusted to reflect the lower number of shares post-split – thus the account values are currently overstated. Schwab is in the process of correcting this.
As mentioned in an email to you last week, these types of temporary pricing delays can and will occur and shouldn’t overly concern you. As always, please do not hesitate to give us a call should you ever have any questions regarding your account(s).
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