Resolving stock as unclaimed property

ER604me

Recycles dryer sheets
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Aug 11, 2013
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Hoping someone can offer some help. I'm helping my mother with her investments and one of her stock holdings was purchased by another company. I typically look up her holdings quarterly but this holding suddenly disappeared (couldn't find any info for end of September). My mother recently received a letter from APA (an unclaimed property company) saying we needed to file a form with a medallion certificate to recover the stock and that APA keeps 25% of the holdings value as a fee. My mother never received any notice about the company being sold (the APA letter was our first notice) since I hold her mail at a PO Box.
 
“One of her stock holdings was purchased by another company”

Not sure what that means but maybe it would help if you share the ticker.
 
I would not use this company; probably unnecessary. Assuming these shares weren't in a brokerage account (that is, held by a transfer agent for the company)? They usually don't turn it over as 'unclaimed' for about 3 years or so. That may vary. Even then, it would go to the state & most, if not all, have an online presence where you can determine they hold & how to claim -- probably without a fee. If you have some of that info & share, it might help
 
I think shares are usually converted to cash when they're escheated to a state, so once that happens, there's no way to get the shares back; you just get the cash that the state has been holding for you. If APA is offering to retrieve shares and they have your Mom's info, they probably got it from one of the companies involved. I would first contact investor relations at the acquiring company and see if they can help.

Planet Money did a podcast about a guy who had all his Amazon shares sold. https://www.npr.org/transcripts/799345159 Apparently Delaware makes a huge amount of money from this since so many businesses are incorporated there. So, if the company does tell you that they no longer have her shares, check Delaware's unclaimed property in addition to the state where she lives.
 
Hoping someone can offer some help. I'm helping my mother with her investments and one of her stock holdings was purchased by another company. I typically look up her holdings quarterly but this holding suddenly disappeared (couldn't find any info for end of September). My mother recently received a letter from APA (an unclaimed property company) saying we needed to file a form with a medallion certificate to recover the stock and that APA keeps 25% of the holdings value as a fee. My mother never received any notice about the company being sold (the APA letter was our first notice) since I hold her mail at a PO Box.
It would be helpful for us to help you if you elaborate on "I'm helping my mother with her investments and one of her stock holdings was purchased by another company. I typically look up her holdings quarterly but this holding suddenly disappeared (couldn't find any info for end of September)."

What do you know about the purchasing company? What is that company? And what was your mother's holding that is now gone? How do you know they purchased your mother's investment?

When the holding "disappeared", did something else "appear" in its place? Like cash? Shares in the purchasing company? etc.

I would ignore the letter from APA (at least for now).

There's more to this story.
 
Contact Investor Relations at Purchasing company, they should be able to help.
 
It would be helpful for us to help you if you elaborate on "I'm helping my mother with her investments and one of her stock holdings was purchased by another company. I typically look up her holdings quarterly but this holding suddenly disappeared (couldn't find any info for end of September)."

What do you know about the purchasing company? What is that company? And what was your mother's holding that is now gone? How do you know they purchased your mother's investment?

When the holding "disappeared", did something else "appear" in its place? Like cash? Shares in the purchasing company? etc.

I would ignore the letter from APA (at least for now).

There's more to this story.

You are right on. PaunchyPirate. :) Normally, if investments are held by a brokerage company. And a stock is
acquired. It is replaced by another "company stock". Which would show up on the following Brokerage
Statement. IMHO. OP, needs a more "qualified", friend to look at Mom's paperwork. :)
 
It would be helpful for us to help you if you elaborate on "I'm helping my mother with her investments and one of her stock holdings was purchased by another company. I typically look up her holdings quarterly but this holding suddenly disappeared (couldn't find any info for end of September)."

What do you know about the purchasing company? What is that company? And what was your mother's holding that is now gone? How do you know they purchased your mother's investment?

When the holding "disappeared", did something else "appear" in its place? Like cash? Shares in the purchasing company? etc.

I would ignore the letter from APA (at least for now).

There's more to this story.
I appreciate everyone's comments. The company she owned through a trust was Equitrans Midstream Corporation and it was acquired by EQT. The Equitrans stock was acquired by my late father in an online brokerage company, AST, probably 8-10 years ago and AST moved all accounts to EQ this summer with the stock purchase. My mother and I knew nothing about Equitrans Midstream Corp until I started doing their taxes 7 years ago (my fathers dementia and memory kicked in 7 years ago and he passed 4 years ago). My mother's dementia & memory issues causes her to be fearful and hide documents, bills and checks. There has been no action on the Equitrans Midstream accoun for 3 1/2 years. Only notification was from APA. I looked up that companies are in Pennsylvania and have talked to unclaimed property there. They reiterated what was stated by others above and to ignore the APA letter.
 
I appreciate everyone's comments. The company she owned through a trust was Equitrans Midstream Corporation and it was acquired by EQT. The Equitrans stock was acquired by my late father in an online brokerage company, AST, probably 8-10 years ago and AST moved all accounts to EQ this summer with the stock purchase. My mother and I knew nothing about Equitrans Midstream Corp until I started doing their taxes 7 years ago (my fathers dementia and memory kicked in 7 years ago and he passed 4 years ago). My mother's dementia & memory issues causes her to be fearful and hide documents, bills and checks. There has been no action on the Equitrans Midstream accoun for 3 1/2 years. Only notification was from APA. I looked up that companies are in Pennsylvania and have talked to unclaimed property there. They reiterated what was stated by others above and to ignore the APA letter.

"AST moved all accounts to EQ this summer with the stock purchase."

Have you contacted the Investor Relations people at EQT Corporation? I would think they would be able to answer your questions.

 
Contact Investor Relations at Purchasing company, they should be able to help.
Interesting that the letter from APA had 3 contact numbers for Equitrans Midstream and EQT and all were not in service. I've looked up the IR departments online and have left messages.
 
"AST moved all accounts to EQ this summer with the stock purchase."

Have you contacted the Investor Relations people at EQT Corporation? I would think they would be able to answer your questions.

Thanks for your help. I have called IR at EQT and left a message yesterday. Awaiting a call back. If no call back by tomorrow, I will send an email.
 
Also do a search of your State's website for unclaimed property.

I did that a number of years ago - and located DF's (Medco) stock which had escheated to the State, in this case NY. I was given the option of having the stock or funds transferred to me, and chose the stock. By virtue of some type of transaction, I ended up with Cigna and cash. You should be deal with the state directly without paying for the services of a third party.

BTW, I received a letter from EQT about a month ago with regarding a stock I had never heard of stating that if I did not contact them they would transfer my stock to the state. After confirming that the number on the letter did match up with EQT, I called the number on the letter and used the automated system to punch in the account number listed on the form, and confirm that I was the owner by pressing a button. I guess I will have to follow up and transfer that position over to Schwab.

Good luck!
 
I had some old company stocks that AST had sent me paper certificates for, and AST was the service company that would sent dividend checks and quarterly statement, 1099-div, etc. Then I was notified that they sold and I had to log on at www.equiniti.com/US/ast-access (with my same old AST username and password), and then finally the stocks gained some of the share price back that they lost in 2007/8 so I transferred the certificates to Fidelity and sold that dead weight asap.
 
Just to add... if it has been sent to the state it is likely cash now...

My father bought my mother a life insurance policy back in the 1930 with a mutual company... that mutual company changed to a regular corporation and mom 'got stock'... well, not!! The last info the company had was from 1941 and mom never knew she had it... the state of NY got the cash after selling it and kept it for many many years... I finally got it after mom passed... but no increase in value...
 
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