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Stock question from clueless investor!
Xrayspecs
Posts: 2 Newbie
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?
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?
0
Comments
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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.0 -
As long as the letter is genuine, I would definitely submit a claim."If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes” Warren Buffett
Save £12k in 2025 - #024 £1,450 / £15,000 (9%)0 -
Thank you!0
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