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Question about halted stock in Lazare Kaplan


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Does anyone remember a well known net-net stock, Lazare Kaplan (LKI)? Stock was halted around 10 years ago over some missing diamonds. Seems like the stock never traded again. Any idea the mechanics behind this? Would shareholders still have some kind of security in their brokerage account?

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Probably depends on the broker. I've had quite a few untradable instruments hang around in my account for a couple of years, like during bankruptcy procedures. Never 12+ years, but if for whatever reason the broker forced you to remove it from their books, then you could probably just contact the transfer agent and get the shares registered in your own name. You should have the same rights in either case, although if nothing has materialized after 12 years those rights probably aren't worth much.

 

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