Notalawyer1
New Member
I'd like to ask for advice in recovering lost securities.
Many years ago (1980-85) I invested in a publicly traded company. I purchased the stock through a discount brokerage (which subsequently merged with one, then another larger brokerage house). I took possession of the stock certificates myself at one point (about 15 years ago). At present I do not have the certificates and believe they are lost.
I contacted the transfer agent for the company last week, explained the situation and received some less than helpful advice. I was instructed to contact the (now defunct) brokerage house through which I purchased the stock and ask them to investigate. Barring that, I was told to search the State's unclaimed property database, which I did, and found nothing.
My question is the following: Is it unreasonable to expect a (large) publicly traded company to retain records of who their stockholders are, how many shares they own, and when they were purchased/sold? If indeed their records show that I am a present stockholder, I will gladly pay for any necessary surety bonds for the issuance of a new certificate.
A second question is: Is there a service which can investigate this for me? (I'd be happy to pay the fee.) How should I proceed?
Thank you in advance for your advice.
Many years ago (1980-85) I invested in a publicly traded company. I purchased the stock through a discount brokerage (which subsequently merged with one, then another larger brokerage house). I took possession of the stock certificates myself at one point (about 15 years ago). At present I do not have the certificates and believe they are lost.
I contacted the transfer agent for the company last week, explained the situation and received some less than helpful advice. I was instructed to contact the (now defunct) brokerage house through which I purchased the stock and ask them to investigate. Barring that, I was told to search the State's unclaimed property database, which I did, and found nothing.
My question is the following: Is it unreasonable to expect a (large) publicly traded company to retain records of who their stockholders are, how many shares they own, and when they were purchased/sold? If indeed their records show that I am a present stockholder, I will gladly pay for any necessary surety bonds for the issuance of a new certificate.
A second question is: Is there a service which can investigate this for me? (I'd be happy to pay the fee.) How should I proceed?
Thank you in advance for your advice.