--- title: "Announcement regarding the handling of the incident involving the purchase of BRK.A with market orders during abnormal market conditions on the NYSE." type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/21622843.md" description: "For loss-making clients, Longbridge Securities proactively canceled the transactions and advanced all losses caused by clients' purchase of BRK.A on June 3, 2024." datetime: "2024-06-05T10:38:36.000Z" locales: - [en](https://longbridge.com/en/topics/21622843.md) - [zh-CN](https://longbridge.com/zh-CN/topics/21622843.md) - [zh-HK](https://longbridge.com/zh-HK/topics/21622843.md) author: "[长桥LONGBRIDGE](https://longbridge.com/en/profiles/1450687.md)" --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/topics/21622843.md) | [繁體中文](https://longbridge.com/zh-HK/topics/21622843.md) # Announcement regarding the handling of the incident involving the purchase of BRK.A with market orders during abnormal market conditions on the NYSE. Dear Clients: Due to a technical failure in the software upgrade responsible for quote processing at the New York Stock Exchange, multiple stocks including Berkshire Hathaway experienced significant volatility. Some clients submitted market orders to buy $Berkshire Hathaway(BRK.A.US), which led to a backlog of buy orders, driving the price above $700,000 per share. Many users purchased at market price, and after the buy orders were absorbed, the price dropped to $620,000 per share, resulting in substantial losses for some users. Subsequently, Longbridge Securities found that not only did some users incur significant losses, but others also made profits of nearly $200,000 in a single trade. In response, Longbridge Securities has proposed the following solutions: - For clients who suffered losses, **we will proactively cancel the trades and cover all losses incurred from purchasing BRK.A on June 3, 2024.** - For clients who profited, no cancellations or interventions will be made. BRK.A will be set to non-tradable during the U.S. trading session on June 5, and all trade cancellations will be completed within 24 hours. By the pre-market session on June 6, all affected client accounts will be restored to normal status. _FAQ_ Q: My account is among those with canceled trades. Will this affect my other stocks besides BRK.A? A: Only trades related to BRK.A on June 3 will be canceled. Q: I bought BRK.A on June 3 at $630,000 and sold it at $700,000. Will my trade be rolled back? A: The cancellation and compensation only apply to accounts that incurred losses. No intervention will be made for profitable accounts. Q: I’ve already closed my BRK.A position myself. Will my losses be covered? A: We will compensate for losses incurred from trading BRK.A on June 3. In the face of market volatility caused by exchange technical failures, we chose not to shift blame to external factors but instead prioritized our clients' interests, actively seeking solutions to protect investors' rights. This decision reflects our commitment to standing with investors who trust Longbridge. In times of risk, we will always stand in front of our users—this is the responsibility and warmth of a leading brokerage platform. Trust us. We will prove through actions that Longbridge Securities is your solid investment partner. Choose us, and invest with confidence! We thank every investor who has grown with us—your trust and support strengthen our resolve on this path. **Longbridge Securities will always stand with our users.** ### Related Stocks - [Berkshire Hathaway Inc. (BRK.A.US)](https://longbridge.com/en/quote/BRK.A.US.md) - [Berkshire Hathaway Inc. (BRK.B.US)](https://longbridge.com/en/quote/BRK.B.US.md) ## Comments (382) - **春浓珠宝 · 2024-07-03T18:26:07.000Z**: Hahahaha - **距成为操盘手还差1天 · 2024-07-02T06:51:16.000Z**: Awesome - **Air_weCqar · 2024-06-07T15:22:17.000Z**: Poor wording. Since it's a withdrawn transaction, there can't be any trading loss. So don't write the words 'withdrawn transaction'. - **炒股有毒 · 2024-06-07T06:58:18.000Z**: Awesome! As a Longbridge user, I'm so proud to see such a responsible brokerage! At the same time, I hope the platform keeps improving and enhancing the user experience to become stronger and bigger! - **33 · 2024-06-07T02:26:09.000Z**: Uselink Securities also puts customer interests first, thumbs up for this conscientious broker - **The Power of Trump · 2024-06-06T14:30:30.000Z**: Awesome, grateful, Longbridge is amazing - **梦里啥都有 · 2024-06-06T11:26:39.000Z**: With strength and responsibility, choosing Longbridge didn't let me down! - **熊市戰士 · 2024-06-06T09:13:37.000Z**: Although I didn't manage to buy $Berkshire Hathaway(BRK.A.US) that day, the arrangement by @長橋LONGBRIDGE was awesome👍🏻👍🏻👍🏻 - **长桥LONGBRIDGE · 2024-06-06T06:18:38.000Z · 👍 12**: Latest update: Affected customer accounts have been gradually restored, and service fees have been refunded. Interest for some accounts is still being processed and is expected to be completed before the U.S. market opens. - **henryhu** (2024-06-06T06:21:55.000Z): Thanks to Longbridge, everything is back to normal, and the processing speed is top-notch. - **新用户_fVv · 2024-06-06T06:15:44.000Z · 👍 3**: Longbridge handled this situation very well, showing the caliber of a top-tier brokerage firm 👍 According to my grapevine knowledge, Futu carried out forced liquidation, and users had to bear the losses themselves.Those who bought on Futu, Weiquan, even potteryh - **最小的羊 · 2024-06-06T06:14:53.000Z**: The funds are finally back, will still use Longbridge in the next life! - **躺平致富** (2024-06-06T06:21:11.000Z): Found a genius! - **woooooo** (2024-06-06T06:22:04.000Z): Bullish - **新用户_evj4d77** (2024-06-06T07:30:41.000Z): Did you buy at $185 and make a profit? Is the profit normal? No withdrawal? - **天才超级交易员 · 2024-06-06T06:11:05.000Z · 👍 2**: Thanks Longbridge. - **毛毛鱼 · 2024-06-06T05:44:49.000Z**: Why didn't my order get executed? - **毛毛鱼** (2024-06-06T05:49:36.000Z): Why does it show expired? Bought 2 shares - **maybee · 2024-06-06T05:33:58.000Z**: Responsible! What a man! - **iMAMUTE · 2024-06-06T03:56:32.000Z**: Longbridge community members send some task coins 🥹 I'll help you promote it - **A股狗都不玩 · 2024-06-06T02:19:46.000Z**: Longbridge really has vision this time - **LoveML4E · 2024-06-06T02:10:06.000Z**: This is handled too well - **dyer_ming · 2024-06-06T02:04:35.000Z**: Responsible! When will futures trading start? Wait for me to place futures orders using Longbridge. - **长桥LONGBRIDGE** (2024-06-06T02:15:44.000Z): Preparing now, will advance within the year, stay tuned💪 - **呢喃的歌声 · 2024-06-06T00:45:42.000Z**: Although it didn't affect me this time, I decided to repost immediately.