stock transfers after death

[james soup]

A company office holder died and left ten shares of stock in his portfolio. A different company sued the estate and was awarded the ten shares. The company is now sending threatening letters trying to get us to buy the shares at a greatly enhanced price or threatening to sell the shares to our main competor in town. They are talking about opening up our records and making a stink over this. Any help would be appreciated.

James

 

[HomeGuru]

You are not obligated to purchase shares owned by a totally different company unless there was a previous purchase or buy-sell agreement. I fail to see how your refusal to buy the shares has any bearing on the opening up of your records.

It appears that there may be more to this situation than you are telling due to the fact that there was litigation against the estate and a different company was awarded the shares.