brokerage mistake

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invest09

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My brokerage firm did some actions which I think are illegal and so I am seeking advice in this forum:

1. I purchased a municipal bond which was listed at $5. I believe the market value was about $50.
2. The order was 'filled' and money debit'ed from account and the bond was added under fixed asset category under my brokerage account.
3. The following day the brokerage firm 'sold' the bond (at $5) and remitted the money back to my account. This action was taken without informing me. When I called, the bond desk person told me the quote was incorrectly entered by the bond dealer and is way low from it's market value.

Two questions:
1. isn't the brokerage firm committed for 'trade guarantee' with account holders? It was a legitimate trade and assigned to my account.

2. The brokerage firm sold the asset without my approval. Is that not illegal?

Does it make sense to seek legal advice in this situation?

If I make a similar mistake I am sure the brokerage firm will not take any such action.

This is a $25K transaction. Please advise what my options would be in this case. This is a top tier brokerage firm.
 
I have no idea what the situation is. Why would a top tier brokerage firm allow you to purchase a bond at 10% of the market value? Why would they sell it without your consent?

We are missing key parts of the picture here.
 
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