# Objection to a company's plan to devalue stock?
**URL:** https://boards.straightdope.com/t/objection-to-a-companys-plan-to-devalue-stock/338573
**Category:** Factual Questions
**Created:** [January 5, 2006, 2:31pm UTC](https://boards.straightdope.com/t/objection-to-a-companys-plan-to-devalue-stock/338573 "2006-01-05T14:31:03Z")
**Posts on this page:** 3
**Page:** 1
### Author:  [@cmurdough](https://boards.straightdope.com/u/cmurdough)
#### Post date: [January 5, 2006, 2:31pm UTC](https://boards.straightdope.com/t/objection-to-a-companys-plan-to-devalue-stock/338573/1 "2006-01-05T14:31:03Z")
I invested in company that has filed for bankruptcy. The company’s plan is to remain in business as a debtor-in-possession, but to eliminate the stock with no compensation to the shareholders. I just received the official notice of the bankruptcy hearing. The notice states, among other things, “In accordance with Local Bankruptcy Rule 3017-1(a), any objection to the Disclosure Statement (which states that the shareholders will receive no value for their stock) may be filed with the Court.”
Is this worth consulting a lawyer over? Might it do any good for me to protest? Do I even need a lawyer to protest, or can I just send in something I’ve written that states, in effect, that I want some sort of compensation if the company becomes a future success?
The notice states that if I don’t lodge a protest with the Court, that I consent to the company’s plan for sticking it to the shareholders.
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### Author:  [@cmurdough](https://boards.straightdope.com/u/cmurdough)
#### Post date: [January 5, 2006, 2:32pm UTC](https://boards.straightdope.com/t/objection-to-a-companys-plan-to-devalue-stock/338573/2 "2006-01-05T14:32:04Z")
I invested in a company…
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### Author:  [@Freddy\_the\_Pig](https://boards.straightdope.com/u/Freddy_the_Pig)
#### Post date: [January 5, 2006, 2:56pm UTC](https://boards.straightdope.com/t/objection-to-a-companys-plan-to-devalue-stock/338573/3 "2006-01-05T14:56:06Z")
Not a lawyer, but I don’t see what you have to protest. When a company goes bankrupt, the debt holders have priority over the equity holders. The prior equity usually becomes worthless.