To: Larry Panik who wrote (302 ) 3/12/1999 2:35:00 AM From: Joana Tides Read Replies (1) | Respond to
Larry good luck and may one of these avenues lead you to the right person for a solution in your favor. Once it starts to go from talk into writing, things do change! IMHO the broker is central: they sold you the shares and then they charged you extra for a faulty certificate registry. It could be compared to buying a stereo with an extra 3 year warranty if when it breaks the store refuses to fix it because the warranty card was missing a stamp. You, being the buyer of record, paid for property (only difference is tangible and intangible property) and also for a piece of paper guaranteeing the property and the listing of you as owner of record. You had no way to evaluate whether the warranty card (stock certificate) was properly executed and why should you care because you have the receipt! The ACCEPTANCE of your payment preceded delivery of goods. You placed RELIANCE on them to INSPECT. They took your money, says so right there on the statement, they have no excuse to try to get you to own the problem. If the certificate which they gave you to register the property they sold to you formerly is now "Undeliverable" to them, then it was "Undeliverable" when they sold it to you at first - but the shares they sold you were and are validly trading so the property itself is viable. The certificate registration is seperate from your purchase and ownership of the shares themselves; your ownership doesn't stop because there's something wrong with the certificate.
