A decade ago, the Tyco company took a big fall and they were sued for allegedly overstating their financial results. The result of the litigation is that there is a $50 million pot of money to be divided among Tyco investors who held stock during the critical period. I mentioned a while back that I'm trying to get access to my share.
I had thought that being Canadian rather than American would be a barrier, but seems not to be a problem. The real challenge has been to get my evidence of being a shareholder accepted. I have all the relevant records, but I twice got responses saying that my claim "has been wholly rejected" due to certain "defects".
They keep asking me for records of a transaction on 2003 March 14. Explaining that I made no transaction on this date didn't help. During a telephone call with a pleasant person, I learned that I need to produce proof that I still owned shares on this date. I'm not sure how I was supposed to understand this from a letter stating that I need to send "supporting documentation for a transaction on 03/14/2003".
This process has been annoying, but potentially profitable. If many people ran into the same confusion that I had, then there will be fewer investors dividing up the $50 million. Of course, there is still the possibility that my claim will be rejected for some other incomprehensible reason.
The interesting part of all this is that I'm actually best off if the process is as confusing as possible without preventing me from getting my claim. My sense of right and wrong makes me prefer a transparent process, but I won't turn down extra money if others are unfairly excluded.