Can someone help me with some stock certificates that I have inherited years ago. I know nothing about stock.

Question

Some that I have were AT&T and it split into several companies so now I have several different companies. and then some were bought out by other companies and I am so confused of what is what. Some are asking me to turn in the actual certificate. Now I think AT&T bought back all these companies I don't know what is what Help!

Answer 1

You need to find a stockbroker that has some patience! You are not alone, a great many people find themselves with 'odd lots' of defunct company stocks, shares of companies that have been bought out, dissolved, merged, and on and on. AT&T share are EASY to deal with for a broker, you will need to have a conversation with the broker on exactly what needs to happen, he will ask you to bring in the certificates, or sign a limited power of attorney and some other papers to allow the shares to be turned in and new shares issued for the 'new baby bells' that you now own. Not sure at all about the 'New AT&T and its relationship to the stocks you now hold. But I am pretty certain that what you really have are share in various 'baby bells', the telephone companys that were created when deregulation broke up the original AT&T (Bell System)

Good fortune, and don't be upset, this is not that big of a deal... :)

Answer 2

First thing you need to look at is the registered name on the certificate. If it's not you you will need a power of attorney (or similar) to transfer the shares into a nominee name (the broker you give it to). The broker will send it to the transfer agent and register it in their name. The transfer agent will check it for splits/name changes etc etc. The transfer agent will then clear the shares into DTC (depository trust company) which basically means they are in electronic form. And then sell away. It should take about 3-6 weeks but it's very dependant on having your paperwork in order and having a good broker/clearing agent.