Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Monday, November 12, 2007

E*Trade Shares Crash and Burn

E*Trade shares lost more than one-half of their market value today, following E*Trade's warning last Friday that it will have larger than expected fourth quarter writedowns due to its holdings in mortgage-backed securities and a Citigroup analyst's devastating report on E*Trade's financial difficulties, including a 15% chance that it will declare bankruptcy.  In addition, the company announced that the SEC has opened an informal inquiry related to its securities and loan portfolios.  WSJ, E*Trade Shares Plummet On Fears, Write-Downs.

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