How can stocks just disappear? CMOS vanished overnight!?

Question

I checked my stock list this morning and Credence Systems Corp. had seemed to disappear! After some frustrating exploration I finally found they had merged with another company and are now LTX CREDENCE CORP. People on the message boards have been complaining for a long time that the management was either incompetent or crooks. Can they merge and take my money with them? I didn't have much but I have been patient with them for a long time and hoping my investment hasn't gone poof.

Answer 1

Your investment has not gone poof.

Under the terms of the merger agreement, Credence stockholders received 0.6129 shares of LTX-Credence common stock for each share of Credence common stock they owned. So, if you had owned 10,000 shares of Credence you now own 6,129 shares of LTX-Credence, which trades on the NASDAQ under the symbol LTXC.

Answer 2

no, when they merge, your shares become converted to those of the merged company, they don't just disappear.

you need to find out how many shares you got for your original CMOS ones.

Answer 3

You still own stock in the company.  In fact, mergers often lead to higher stock values.  Just make sure it all gets switched over to the new company.

Answer 4

It has not gone poof yet. Ignore the stock for another year or two, and then POOF, it will be gone.

Answer 5

When a merger occurs, stockholders normally get shares in the new entity to replace the old shares.  Contact the company's shareholder services function.