Stock Certificates held Hostage
This is a discussion on Stock Certificates held Hostage within the Credit Cards, Banking, Securities forum, part of the Other Business & Finance Law Issues category; I left my previous employer back in January and in March I initiated a transfer of my company's stock that ...
![]() |
|
|
Thread Tools | Search this Thread | Rate Thread | Display Modes |
|
|
#1 |
|
Guest
Posts: n/a
|
I left my previous employer back in January and in March I initiated a transfer of my company's stock that I was 100% vested in. I was initially told that this process would take 3-6 weeks to roll these certificates into an IRA brokerage account. After 4 weeks, I started raising alot of concerns due to my asets not being available. I was told by the brokerage firm that this was normal and the process would in fact take 4-8 weeks. After 8 weeks I again started raising alot of concern. It was then disclosed to me that the bank holding the certificates had not released them yet and the issue was with them. Upon contacting that bank, I was again steered in the opposite direction that it was my brokerage's issue. After several 3 party calls it was then disclosed that I needed to transfer the company's stock from class A shares to Class B shares. In order to do this I would have to submit a special form. After about a week I received the form and when I inquired to the information needed, I was once again told that this wasn't the process and an completely different form was needed, and that this needed to be submitted from the brokerage firm only. Again a 3 party call was made and the arrangements were made to have this form faxed to my IRA Brokerage admisitrator. It has been almost 14 weeks now, my stock have lost almost 18% in their value and I still do not have any control over my assets. What are my legal rights to recover any of my losses?
|
|
| Sponsored Links |
| Forming an off-shore company? We can assist you in forming your company in 40 countries worldwide. |
|
|
#2 |
|
Junior Member
|
where the certificates deposited under any instructions?
|
|
|
|
|
|
#3 |
|
Top Level Member
Join Date: Feb 2007
Posts: 782
|
You will not get compensated for change in the stock price, but perhaps you should have legal counsel or a financial planner intervene and verify what is really happening. It sounds a bit odd frankly and worth checking...
|
|
|
|
![]() |
| Bookmark & Share |
| Tags |
| None |
This thread has 2 replies and has been viewed 569 times
| Thread Tools | Search this Thread |
| Display Modes | Rate This Thread |
|
|
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| Death certificates | Unregistered | Wills, Trusts, Estates | 1 | Jul 31st, 2008 01:23 PM |
| How to compel Del. Corp. to issue Stock Certificates? | Unregistered | Business Contracts & Partnerships | 1 | Jun 25th, 2008 12:23 PM |
| car held hostage | Unregistered | Civil Litigation | 1 | Nov 7th, 2007 03:17 PM |
| Tools of My Trade Held Hostage! | Unregistered | Miscellaneous Topics | 1 | Jul 17th, 2007 10:44 PM |
| $1000 held hostage by Sprint; Debt mounts | dillon_ri_jones | Small Claims Courts | 2 | Oct 19th, 2006 12:25 PM |
Forming an off-shore company? We can assist you in forming your company in 40 countries worldwide.
All times are GMT -5. The time now is 10:25 AM.










Linear Mode

