Charles Schwab & Co. Inc.

Review: Received a message from a Schwab representative stating " we can no longer secure shares to be short and if no action is taken by noon, October ** our margins group will take action to close that position out " Pretty self explanatory no? I wanted to maintain the short position in [redacted] so I shorted in a different account with [redacted] on Tuesday am. I was away on business and by the time I got around to looking at my Schwab account it was October ** and I still owned the shares with Schwab, in the midst of a rally. I took a bigger loss than I ever should have. They claim they listened to the recorded calls, but somehow, miraculously don't hear what the rep left on my answering machine, as quoted above. They offered a couple of excuses, one of which was Monday, October ** was a holiday, incredulously I asked, were the markets open on Monday to which the answer is yes the markets were open. Would expect more from a company such as Schwab so be aware. I would go elsewhere. They don't give a darn about the average retail investor.Desired Settlement: To be out of my position on Monday the [redacted] of October as Schwab clearly stated would be the case.

Consumer

Response:

At this time, I have not been contacted by Charles Schwab & Co. Inc. regarding complaint ID [redacted].

Sincerely,