Legal Question in Securities Law in California

What am I due for their error?

On 09/10/01 before market close, I called a mutual fund co. to purchase $3000 worth of additional bond fund shares via an automated clearing house set up between them and a bank checking account. For what it's worth, I have a record of this being keyed in on the 10th. The purchase was to take place on 09/11/01, with the money being withdrawn on Sept. 12. The market, though, ended up being closed till the 17th when the purchase finally went through, however, they still withdrew the funds on Sept. 12th without myself receiving any additional shares! This company has also been somewhat lax in other past dealings, thus I'd like to know what I'm due per their (temporary) theft of the $3000, any dividends due, etc. Thank you very much.


Asked on 10/18/01, 10:22 pm

1 Answer from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: What am I due for their error?

"Temporary theft" is an oxymoron. There is no theft unless the thief intends to deprive you of your property permanently. On the whole I don't think you have a case.

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Answered on 11/23/01, 6:43 pm


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