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  • FIRST POST
    • Xrayspecs
    • By Xrayspecs 19th Apr 17, 12:49 PM
    • 2Posts
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    Xrayspecs
    Stock question from clueless investor!
    • #1
    • 19th Apr 17, 12:49 PM
    Stock question from clueless investor! 19th Apr 17 at 12:49 PM
    Hi - hoping for a bit of advice as I am bewildered!

    I inherited some stock in a major US oil company many years ago, and - as a stocks and shares ignoramus - have been plugging along just filling in the odd form and getting dividends, not actually ever looking into the stock market more deeply, as I have no other available funds to invest and am rather cautious by nature.

    I have just received a letter regarding a class action which has been brought against this company. (The letter came from the US and I am not concerned that it is a con.) The letter says that, if I bought or otherwise acquired stock in the company during a specific time I could get a payment from this class action settlement. (I assume I qualify, having had them made over to me during this time frame and therefore I did acquire it)

    It says the options are: Submit a claim; exclude yourself from the lawsuit; Object; Go to a hearing or do nothing.

    Is submitting a claim for this the no-brainer it appears to be?
    Last edited by Xrayspecs; 19-04-2017 at 12:53 PM.
Page 1
    • AnotherJoe
    • By AnotherJoe 19th Apr 17, 3:49 PM
    • 6,295 Posts
    • 6,660 Thanks
    AnotherJoe
    • #2
    • 19th Apr 17, 3:49 PM
    • #2
    • 19th Apr 17, 3:49 PM
    Yep, nothing to lose.
    I'm currently in one, (where the company went bust and it later turned out the CEO sold all his shares a week previously)

    Not holding my breath.
    • george4064
    • By george4064 19th Apr 17, 4:13 PM
    • 741 Posts
    • 789 Thanks
    george4064
    • #3
    • 19th Apr 17, 4:13 PM
    • #3
    • 19th Apr 17, 4:13 PM
    As long as the letter is genuine, I would definitely submit a claim.
    "If you arenít willing to own a stock for ten years, donít even think about owning it for ten minutesĒ Warren Buffett

    Save £12k in 2016 - #045 £10,358.81/£12,000 (86%)
    Save £12k in 2017 - #003 £6,131.58/£12,000 (51%)
    • Xrayspecs
    • By Xrayspecs 20th Apr 17, 10:13 AM
    • 2 Posts
    • 0 Thanks
    Xrayspecs
    • #4
    • 20th Apr 17, 10:13 AM
    • #4
    • 20th Apr 17, 10:13 AM
    Thank you!
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