Pre-ipo Broker Screwed Me Out Of $1m

Location: I am in Canada but broker is headquartered in New Jersey

A few years ago, I invested around $102K USD into SpaceX through a pre-IPO broker at a $130B valuation. I received 1,350 shares for this investment. In March of 2025, they sold my 1,350 shares at a price of $105. They kept 20% of the profits and wired me about $130K USD. I did not authorize them to sell my shares. In the correspondence with me, they stated: "Under ARTICLE V. RIGHTS AND DUTIES OF THE MANAGER of the PPM (5.1 `Management`), 5.1 The Manager may; (b) sell all or any part of any Investment whether for cash, securities, property or on such terms as the Manager shall determine to be appropriate;"

At this time, SpaceX was trading in the private market at $229 per share which was a valuation of $350B. They sold my shares at more than a 50% discount.

With the acquisition news today, SpaceX is valued at $1.2T and is looking to go public this year at 1.5T. At a valuation of 1.5T, my 1,350 shares would be worth ~$1.1M USD.

I am not here to debate the valuation of SpaceX. I am here because this is starting to take a toll on my mental health. This "broker" screwed me out of hundreds of thousands of dollars and maybe even a million. And that's in USD which is more valuable than our CAD. I need to know if I have any recourse here. If not, then great, I can try to get over this and move on with my life.

I won't starve, but this is life changing money we are talking about. It would have meant an earlier retirement for my wife and I. Every time I see something about SpaceX or the IPO I am filled with rage. Somebody (probably the broker themselves) is holding my 1,350 shares that are about to be worth a fortune. They screwed me so bad.

I can provide a copy of the full PPM if that matters but it will out the name of the broker which I don't think I am allowed to do on this sub. Even if I have recourse, I wouldn't know how to go about finding legal help with this.