Winners, Losers Wonder About Final Score

By RANDALL SMITH, JANE J. KIM and JENNY STRASBURG
WSJ

Investors from day traders to professional money managers who made money during Thursday's market gyrations wondered whether their trades would be canceled while those who lost money cried foul.

Steven Caruso, who represents investors in claims against Wall Street brokerages, said he got a call Friday from a couple who had sold stock via an order to do so at the market price during Thursday's decline. The husband and wife received $100,000 less than they expected.

"The message was, 'We got killed. Can you help?' " Mr. Caruso said. "The woman said her husband sold some securities and got taken out of the position at a very low price before things came back," he said.

Alan B. Lancz, an investment adviser in Toledo, Ohio, said traders at his firm thought they had bought stocks at deeply discounted prices at the market bottom, only to learn many of the trades may get canceled.

(More here.)