what to do with stock cerificates?

[mn54]

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.

 

[MichaelB]

Do you have a brokerage account? If so, just deposit them. The conversion will happen automatically and should be without charge.

 

[saluki9]

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.

 

[Gill]

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