Copyright: | (c) 2010 Targeted News Service |
Source: | Targeted News Service |
Wordcount: | 588 |
Attorney General
“In order to foster a fair marketplace, companies must be transparent,” said Attorney General
BNY Mellon Shareowner Services serves as “transfer agent” for energy giant
In this particular case, the BNY Mellon subsidiary hired an independent contractor, UPRR, to perform additional searches to track down missing shareholders. When UPRR located those shareholders in
The letters did not note that when the state’s Abandoned Property Division secures lost assets, the consumer may then simply put in a claim and get the money back from the state free of charge. In addition, the letter failed to note that the transfer agent would provide many of the services free of charge or for a low flat fee. The Attorney General alleged that the letter misled some consumers, causing them to pay more than they needed to for the services.
For example, one
Approximately 60 Massachusetts consumers paid UPRR for services after receiving the “transmittal letters.” Under the Assurance of Discontinuance filed in
This case is being handled by
TNS C-71PravPad 101203-mv45-3133395 61MarlynVitin
More Articles