How legal is it for a company to restructure and squeeze minor holders of the stock out of ownership?
The question arises from a personal situation. Last year I bought shares of Kalera. Over the course of the year the company sent mandatory stock exchange notices where they were exchanging each share held for a fraction of its previous value (one example is receiving 0.181 new shares for 1 old share). They did this a few times over the course of the year. Come to now and I no longer have any shares left in the company. I talked with a service rep with the trading platform I use and in essence I am SOL, I have to take the loss….. It wasn't a huge sum of money and I had few hundred shares to begin with, but it seems pretty fucked up that can occurr. Wall Street vets, explain to me what just happened…..
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