Cola fights antique stock claim
Sometimes big gifts come in unlikely packages -- at least that's what one family is contending after discovering an unlikely fortune in an antique stock certificate. The family is suing Coca-Cola over an estate valuation issue cheap sporting life canada goose constable sales . after one man purchased an inexpensive certificate at a garage sale. The certificate. they say. entitles the holder to 1. 8 million shares of company stock sporting life canada goose constable sales . which would amount to $130 million in holdings.
The certificate sporting life canada goose constable sales online shop . which the man bought in 2008. assigns 1. 625 shares of the Palmer Union Oil Co. to the document's holder. The shares had been signed and endorsed. but the space for the transferee's name was left blank sporting life canada goose constable sales . After purchasing the document. the man wrote his own name in the blank and began to pursue the massive sum, manteau similaire canada goose .
This issue clearly goes beyond the normal estate planning stories discount sporting life canada goose constable sales . but it's important nonetheless sporting life canada goose constable sales . People should be able to fight to find out how much an asset is worth sporting life canada goose constable sales online shop .
The man. who had originally purchased the stock certificate. died in 2010 canada goose parka outlet xs cheap , discount canada goose retailer online . but he had already traced the roots of the document through a series of defunct companies to Coca-Cola. The certificate was also linked to Petrocarbon Chemicals Inc. and Taylor Wine Co. The family is essentially claiming that the shares of Coca-Cola stock are tied to the canceled stock certificate of an oil company that went out of business long ago canada goose jackets ottawa ontario on sale .
Coca-Cola legal representatives submitted a countersuit in 2009 in the case. claiming that the family's assertions are completely unfounded. Canceled stock certificates have no merit. say the attorneys, canada goose new york jacket women's online store . The family's attorneys. however real cost of grey goose canada . argue that the claim is valid canada goose heli arctic navy parka for sale . citing examples of past legal precedent that would allow the stocks' value to transfer even after the parent company went under.
If the man's estate is successful in the suit. the family would become one of the largest non-institutional investors in Coca-Cola. according to official reports.
Source. First Coast News. "Family claims $130 million in Coke stock found at garage sale. " Kara Van Hoose. April 7. 2012. sporting life canada goose constable sales