How can a major corporation turn over stock shares to the state 32 years after purchase?
Submitted by admin on April 5, 2010 – 2:59 pmNo Replies
A web user asks, My grandfather purchased 15 shares of Pepsi Cola stock at $8.58 per share in 1959. In 1991 the company turned the stocks over to the state at $13 per share. How can they do this and where are the dividends that should have been paid? One would expect a co like Pepsi to be worth more that $13 per share after 32 years! We still have the original certificate!
Can you help them out? Post your advice!
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