At 11:59PM last night the SEC suspended trading of PacWest Equities Inc. (PWEI). This is a stock that has been in a lot of newsletters lately. Some of our subscribers may be holding shares in their portfolio and I know you have questions about why this has occurred and what to expect.
I also want to test AQUM. Is this working?
The following is an excerpt from the SEC release regarding the suspension. You can read the entire release here.
The Commission temporarily suspended trading in the securities of PacWest because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s business operations and assets. This order was entered pursuant to Section 12(k) of the Exchange Act.
There are very strict and complex guidelines governing the trade of suspended stock. Nearly all trading is prohibited while the suspension is in effect. If you have shares that you want to divest of you may be able to sell them through the brokerage that they were purchased (i.e. eTrade).
We will be closely following this news as it develops and we will keep our subscribers informed of any changes. We will also be adding more information and help for those who are holding the stock as the day progresses.
- SEC Release about PWEI suspension
- Trading Halt Definition (Wikipedia)
- SEC Investor Bulletin: Trading Suspensions