Mutual Fund Question. HELP

[rags2riches]

Ladies and gentleman, I have a doosey...
I am with a client right now and she has asked me to look into some stocks her late husband had purchased. She is 90 and really needs someone to help so I'm just trying to help.
The issue, is that the stocks were bought back in 1970, and the company (according to the SEC Digest) ceased to exist as of 1991.
WHAT HAPPENS TO ALL THE SHARES THEY PURCHASED??? Anybody have any ideas???

Any and all help would be greatly appreciated.

 

[DHK]

Re: Mutual Fund Question... HELP

It looks like you have a STOCK question and not a mutual fund question.

Which company &/or stock symbol?

If the company declared BK, then it's possible that the shares are worthless. If there was any extra funds after paying off bond holders, then they might have already received a check for redeeming their shares.

If the company was bought out &/or merged, then the stock would have been converted to the stock of the new company.

 

[rags2riches]

Re: Mutual Fund Question... HELP

Thanks for the quick response. I know I was throwing onto the wrong forum but I was looking for quick info. I actually found a department at the SEC that tracks this information and was able to figure it out. The stocks were paid out to her so long ago that she doesn't remember. Thanks anyways for your help!