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what to do with stock cerificates?
Old 10-16-2010, 01:59 PM   #1
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what to do with stock cerificates?

I ended up owning 7 shares of valeant pharm. They were recently bought by biovail corp. In order to exchange the valeant stock for the biovail stock, the certificates need to sent to bny mellon. The value of the stock is about $350. They are charging a $100 service fee to do the exchange! Is there any other way to handle this? What if I just hang onto the valeant stock certificates? Thanks for any info on how to handle this.
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Old 10-16-2010, 02:52 PM   #2
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Do you have a brokerage account? If so, just deposit them. The conversion will happen automatically and should be without charge.
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Old 10-18-2010, 11:17 AM   #3
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Originally Posted by mn54 View Post
I ended up owning 7 shares of valeant pharm. They were recently bought by biovail corp. In order to exchange the valeant stock for the biovail stock, the certificates need to sent to bny mellon. The value of the stock is about $350. They are charging a $100 service fee to do the exchange! Is there any other way to handle this? What if I just hang onto the valeant stock certificates? Thanks for any info on how to handle this.
Call your brokerage firm and ask for a stock power form.

Mail them the certs with the signed form.
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Old 10-24-2010, 09:48 AM   #4
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Originally Posted by saluki9 View Post
Call your brokerage firm and ask for a stock power form.

Mail them the certs with the signed form.
You don't need a stock power. Just sign the certificates.
Bruce
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