2900 CT shares traded Thursday
200 LEHKQ
985 LEHLQ
840 LEHNQ
875 LHHMQ
This post from Boardpost (COOP/WAMU) message board might explain why these small amounts keep turning up?
nmruggles
#7
Today at 05:42:40 PM
This post is quite late because I do not follow my Lehman Brothers holdings closely. I went to Ally Invest today to download my 2023 1099 form and recent statements. I noticed a $20 charge to my account in February with no explanation. After reviewing other statements I saw that this charge has been appearing since May 2023.
I called Ally and after about 15 minutes of investigation their rep told me this is a recurring charge related to Lehman Brothers having become untradeable because of no transfer agent. Ally's fee schedule does in fact list a $20/mo fee for non-transferable securities, but I cannot recall getting any notice about this. I was pretty annoyed since this charge only started appearing in mid-2023 after years of bankruptcy, and neglected to ask whether it was related to my Lehman escrow marker (for preferred stock owned prior to bankruptcy), or for LEHKQ, a capital trust security in my account.
My efforts to search online for info about the claimed change in transfer agent status came to nothing. According to Ally's rep, my options are to keep paying 20/mo or pay a one-time $30 fee to close out the "worthless" stock position. He told me I cannot transfer the stock to another broker such as Fidelity which does not seem to have these fees. I am not persuaded that Lehman is worthless but it seems abusive to demand I pay $240 a year for no real work on Ally's part to wait for a possible return.
I plan to call back to find out if the fee is connected to teh escrow or capital trust position, and will try to get a copy of the notice Ally got informing them of the situation.
Anyone have an experience like this with Lehman?
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