Kenneth Breckler lived a remarkable life that wove deeply into the fabric
of central Ohio. Kenneth graduated from St. Mary's High School in
German Village before attending the Ohio State University, where he was
a member of the football team. Kenneth served in the US Army Infantry
in Korea and received the Purple Heart after being injured by shrapnel
from an artillery explosion. His hard work, talent and character brought
him a successful career as a stone mason in the central Ohio area, and
he was a life member of the Bricklayers Local 55. The Central Ohio Builders
Exchange even named Kenneth Mason of the year twice in 1970 and 1996.
Though by no means a highly trained investor, Kenneth had a nose for a
good deal. Among other start-ups like Wendy’s, Kenneth took a chance
on a new women’s clothing company and purchased shares of The Limited
Stores, Inc. (now “L Brands Inc.”) in 1976. As time went by,
Kenneth held onto his shares, no doubt believing that they would serve
as a part of a safety net and investment for his family’s future.
In 2014, Kenneth passed away, leaving behind his wife, Dorothy, of 62
years. Shortly after Kenneth’s death, his family discovered that
the L Brands Inc. shares Kenneth purchased in 1976 had multiplied. This
was a blessing for the family because the additional resources could greatly
assist Dorothy who, in her advancing years, had moved from the family
home to an assisted living facility. However, when the Brecklers tracked
down the actual stock certificates for the L Brands Inc. shares, they
noticed a discrepancy. Over the years, L Brands Inc. had ignored fifty
shares issued to the Brecklers in 1976. As a result of this error, L Brands
Inc. did not issue over seven thousand additional shares to which the
Brecklers were entitled.
Up to this point, L Brands Inc. has essentially ignored Dorothy’s
attempts to determine why it will not honor the shares she has owned since
1976. Nor has L Brands Inc. explained why it did not issue splits or dividends
relating to those shares. This is an unfortunate approach on the part
of L Brands Inc., as Dorothy only seeks to obtain the shares and dividends
to which she is rightfully entitled as an early investor in L Brands Inc.
The value of these missing stocks and unpaid dividends has been calculated
to be in excess of $1.5 million. Rourke & Blumenthal has now commenced
a legal proceeding on Dorothy’s behalf to gain recognition of her
heretofore unrecognized shares and to locate and reclaim the additional
shares to which she is entitled.