Expert: Steven Taylor - 10/7/2011

Question
Hi,

I recently found some old stocks i purchased. I did my reserach and they are worth money but i'm not sure how to cash them in.

Pembridge Inc  purchsed shares mid 1990's. Company sold to ALL STATE insurance.

Larr Capital Inc. shares i pruchased them in the mid 90's, they somehow tie into the Pembridge deal. I believe Larr Captial acted as a shell company in the sale. Not sure how much there worth?

Joe

Answer
Joe, from the information I have available:

Larr Capital did a 1 for 40 reverse split and became Pembridge. Pembridge was acquired by a subsidiary of Allstate in 1998 for $20 per share. The problem is that once the acquisition is approved and the deadline for submitting old certificates is passed, the acquiring company is deemed to have acquired all the shares. Any people that did not tender their old certificates and cannot be located did not receive the cash. Instead, by law, the acquiring company is required to turn over that cash to the government in the last known state or province in which the individual resided. The government then keeps the money in safekeeping for a period of time (varies by jurisdiction) waiting for the person to claim it. Therefore, you will have to search the missing property office of every State or Province in which you lived from the time you first acquired the shares until the takeover in 1998. You can search many of them online for free at www.missingmoney.com and www.naupa.org (check both).