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It depends. In many cases the original stock does indeed become worthless as it's impossible to find someone willing to pay a few pennies per share to cover the cost for executing the transaction. In the case of a privately held company the bankruptcy judge may declare all existing stock as worthless, so again you can't sell. However, in some cases the existing stock holders may be granted an interest in the restructured company. So it depends.
jjstod - what company are you asking about? |
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