Stock question from clueless investor!

Xrayspecs

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?

AnotherJoe

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

As long as the letter is genuine, I would definitely submit a claim.

Xrayspecs

Thank you!