When Block got into compuserve, we sat in a class that explained how the new stock options would work. It was long ago, and I barely remember it, but it was a 'cheerleader' type meeting that said we would get XX number of Compuserve shares for how many Block shares we owned. NEVER happened. Compuserve went bust. Block stocks fell. If Block made any money on Compuserve they never told us about it.
Year ago Block sold CompuServe to AOL for $1 billion. They took the money and ran. The problem when they sold CompuServe to AOL they sold the unit that handled the e-filing of Block's tax returns. After they realized what had happened, the company purchased the Ohio unit back from AOL. If my memory serves me right, the sale helped the company in the purchase of McGladrey.
"Year ago Block sold CompuServe to AOL for $1 billion."
That is incorrect. Block sold Compuserve to WorldCom (in exchange for WorldCom stock), which in turn sold it to AOL. The history of Block's relationship with Compuserve is well documented on the internet and in SEC filings.
I remembered taxpros were told to handout free Compuserve's disk to anyone come to the office but 90% said No they had AOL aleady.. Because we never get anything from shares as a stockholder, I didnot think Block made any money from the sale. Is it too late for class action suit?