Our Oxy warrants were sold from our 401k savings plan without our approval. Is there an ongoing class action suit to overturn this management decision?
6 replies (most recent on top)
Oxy plan sold you out low - I’m shocked.😏
That was actually a good decision from the plan manager. They bring too much volatility to the 401K. Warrants you can keep them somewhere else.
The LTI that spun warrants are vested in your account. Use those to buy $OXY if you dare. Not sure why you’re mad though, no one in their right mind would buy a dollar with .60 debt hanging on it. Thanks Uncle Al for the 75% cash instead of all $OXY stonk
I got a good bump in my account when they sold them, so I am not complaining. Plus, when we got them the paperwork said a third party would be making the decision.
Wasn’t a management decision, was a hired 3rd party fiduciary decision. Not a bad decision either, was invested elsewhere and k–led it last year!
Gains at the time were then invested in other things that probably did even better through 2020, I wouldn’t worry about it.