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Fidelity National Financial, Inc. Message Board

  • djohn31 djohn31 Jan 10, 2014 5:34 PM Flag

    Any new class action suits for LPS merger?

    FNF did not pay compensation for residual shares in LPS merger. Has a class action suit been started for failure to pay market value in merger?

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    • I got my CIL credited on Jan 6. No action required. I have never had to inquire or remind a broker of CIL. I hope this was a singular mistake on their part.

      On stock held in street name, I figure that a broker will have multiple users due CIL, and it is up to the broker to sell some whole shares and distribute money for the CIL. It may be that FNF is involved in each CIL, but I doubt it.

      Your bit about a class action against FNF was weird. Have you ever filled out the paperwork for a class action? CIL values are always less than a share.

    • Are you saying that you did not get any CIL (cash in lieu) in your broker account dated maybe Jan 6?

      • 1 Reply to rudfox
      • It turns out my broker, Ameritrade, had their heads up their butt. First, they said that there would be none, but now they reversed that and made an adjustment to my account on the 13th after I called them back on the 13th. They first told me that none would be paid per their documentation, so I can only wonder if other LPS shareholders faced a similar experience. I needed to have the fractional share paid through that personal adjustment to my account and not when the merger finalized with the other settlements.

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