My father bought 200 shares of New York Electric and Gas back in 1994. This is a utility operating under a company called Avengrid. Avengrid was acquired by Iberdrola and taken private, and Avengrid shareholders were paid $35.75 per share in 2024.
My question is this… I spoke with a shareholder customer service rep who told me as there had been no activity, the money was turned over to the State of Florida. However, Florida is showing that those 200 shares are only worth $270.00. Is there a reason for this difference?
I am absolutely ignorant when it comes to stocks and bonds. I am just trying to understand what happened.
Thanks!