family claims coca cola owes them 130 million

Discussion in 'The Okie Corral' started by *ASH*, Apr 8, 2012.

  1. *ASH*

    *ASH* FURBANITE

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  2. devildog2067

    devildog2067

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  3. *ASH*

    *ASH* FURBANITE

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    thats my thought , also going up against a giant company with power is almost 100 % futile
     
  4. HollowHead

    HollowHead Firm member

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    I'm not a lawyer and the only thing I know about stocks is that I like synthetic Monte Carlos. At best, they have a nice conversation piece to have framed. HH
     
  5. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    I disagree. "Big" companies lose to the "little" guy all the time. However, the "little" guy is often full of crap when he goes against big companies. If justice is to be real, it has to protect big companies and the little guy.

    Big companies dont own the courts nor do they have a stranglehold on good Lawyers.

    What I will concede is the little guy might often get the short end of the stick on little and maybe even some medium sized issues...because he cant get the help he needs (no money in it for the people who would help him)
     
  6. Mayhem like Me

    Mayhem like Me Semper Paratus

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    would have to see it , and have an expert verify it many older stock certificates were bearer certificates meaning you had to have them...but the terns of the mergers would tell you what that certificate is worth now , since that company is no more .. like having a bunch of Delorean stock..
     
  7. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    BTW, it should be a fairly simple issue. The stock is either outstanding or it is not. The certificates are ancillary to that to an extent. There will be very real accountaincy trail.
     
  8. Mayhem like Me

    Mayhem like Me Semper Paratus

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    Soooo if they wrote off those shares many years ago as unaccounted for , what would the legal liability be for them? How would you verify this certificate equates to those shares I think Rick from Pawn Stars needs to call a buddy!!!
     
  9. Rabbi

    Rabbi The Bombdiggity Lifetime Member

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    Shares are either outstanding or they are not.
     
  10. devildog2067

    devildog2067

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    Someone somewhere along the line probably got payment in cash for that stock certificate. If you own shares in a company and it gets bought by another company, your shares do not automatically get converted to shares in the new company. As you said, it depends on the deal.
     
  11. Mayhem like Me

    Mayhem like Me Semper Paratus

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    Would the unclaimed stock not be in the name listed on that certificate in the state where the oil company was incorporated?? As Rabbi said it would be easy to back track the information
     
  12. Mushinto

    Mushinto Master Member

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    If there is a chance, there is a lwyer who will take the case.

    If there is a chance, Coke will probably make an offer.

    If they settle, we will never hear a word about it.
     
    Last edited: Apr 8, 2012
  13. *ASH*

    *ASH* FURBANITE

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    what im thinking is another curve ball is if the owner of that certificate put in a claim of lost or possible stolen and new certificate was issued it would leave this null and void


    as for large companies losing alot more in court then folks think i was speaking along the lines of tying it up in court forever with the money they got . kinda like the government tying up all the atomic veterans lawsuits and settlements until said person dies , then its win /win
     
  14. devildog2067

    devildog2067

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    Coke countersued in 2009, which means that they either made an offer already and the guy turned it down, or that this is so baseless that they didn't even bother.
     
  15. silentpoet

    silentpoet

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    Hey at least they can find the stock certificate. Unlike some people at McDonalds.
     
  16. Dennis in MA

    Dennis in MA Get off my lawn

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    Hence the beauty of direct registration. I hate it when clients turn up with 25 yr old, company-has-been-meted-out-of-existence stock certs. Thankfully a few weeks in legal at the brokerage, at most, and we can tell its legit. 99 out of 100times, it's worthless.
     
  17. Haldor

    Haldor Formerly retired EE.

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    What he said, I lost the certificate to some shares of Exxon back in the '80s. My broker got the certificate replaced for me when I wanted to sell them. If someone turned up that lost certificate it would be worth exactly $0.
     
  18. bigskinny

    bigskinny

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    So, is a yard sale a good place to get in the stock market? :whistling:
     
  19. mikekj

    mikekj

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    That's exactly what I was thinking.
     
  20. BEER

    BEER bad example

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    if it was worth anything i highly doubt the owner would have sold it in a yard sale in the first place.