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Old 04-22-2017, 05:15 AM   #21
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Lost all my stock with them when they came out of bankrupt,,,, Anyone know of any steps I can take to try and get my money back? Any lawsuits against them that I can check into?
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Old 04-22-2017, 07:21 AM   #22
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Lost all my stock with them when they came out of bankrupt,,,, Anyone know of any steps I can take to try and get my money back? Any lawsuits against them that I can check into?
Do you understand what "bankruptcy" is? A court will decide how the limited resources will be split up across the current creditors. I doubt any judge would consider payments to a new creditor. And there is a defined pecking order for which creditors get paid first and how many cents on the dollar. Stock holders are at or near the bottom of that list.

This is the risk/reward situation for buying stock. I never heard of a class action suit against shareholders, for the company to get their gains back. One reason we talk about diversification so much, and mutual funds is to gain this diversity easily.


Good luck finding a lawyer to take a financial case against a bankrupt company. They will be very concerned that there just will be no money for you to pay their fees.

I think you'd have better luck with a magician than lawyers.

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Old 04-22-2017, 08:11 AM   #23
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Note for future reference many brokers will pay you $1 for a lot of stock in bankrupt companies so you establish the loss. (full service typically) Old GM took a long while to go to zero so I think I got .20 per share when I closed that old position out.
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Old 04-22-2017, 08:37 AM   #24
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So did the executives at Peabody pull a fast one on their creditors and enrich themselves?
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Old 04-22-2017, 09:14 AM   #25
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So did the executives at Peabody pull a fast one on their creditors and enrich themselves?
I wouldn't be surprised if the executives do just fine.

But think about it - if you were a talented CEO level person, and were asked to take the helm of a troubled company, wouldn't you want compensation to do the job? It might be unavoidable that the company was going BK, but a good CEO might be able to manage that for the least pain. You can't expect that expertise for free, because of the company situation.

I suppose the executives should get the same kind of haircut on their compensation as other people/companies who did work for Peabody and expect payment for services. But I suppose the board members will be considered "special".

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Old 04-22-2017, 02:36 PM   #26
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This is a nice little object lesson teaching that amateurs buying individual stocks are more likely to lose than to win. This is particularly true for people who don't understand financial basics, like how bankruptcy works. (I am not trying to be insulting here, just realistic.)

Face it, 95% of the time an individual is buying from or selling to a professional who understands the company and the market far better than the individual does and who has access to vast amounts of information and vast resources. Stealing a comment from a clever guy in another thread: 'As an individual, you are bringing a pocket knife to a nuclear war."
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