I bought some shares from a company that had one of the first accounting make up scandals. After that the company was forbidden to operate for some years. I've forgotten of those shares. But now I saw they´re again at Nasdaq with another symbol. Have I lost my original shares?
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2Did the company have to file for bankruptcy and reorganize itself? If so, then the shares may be worthless.– JB KingCommented Oct 3, 2014 at 17:56
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7How did you hold the shares? In a brokerage account? The broker may be able to advise you of the status of your older shares.– Chris W. ReaCommented Oct 3, 2014 at 19:07
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2What is the company?– MylesCommented Oct 6, 2014 at 19:01
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1 Answer
If the company went bankrupt, the issued public shares that were outstanding at the time most likely were voided, in which case your shares are most definitely gone. The company might have done a new stock issuance coming out of bankruptcy with a different symbol, and while it could be substantially the same company, it doesn't mean much for you. It's unfortunate this may be the case, but it is one of the risks of investing.