Expert: Steven Taylor - 1/10/2012

Question
I purchased almost $1000 in "employee stocks" that the company offered to us back in 1999 and they were matching us with equal amount in stock. Since the devision that I was working for at the time is no longer in existanc; they were bought out by First student canada, and I never heard anything from Laidlaw, what happened to this money that I invested?

Answer
Unfortunately Michelle, I believe your investment is now worthless. When Laidlaw went into bankruptcy and reorganized, they cancelled all of the existing common stock as of June 23, 2003. All the former equity holders were wiped out, and new stock was issued to the Company's creditors.