Overseas Shipholding Group, Inc.
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Product Details
Beautifully engraved antique stock certificate from the Overseas Shipholding Group, Inc. dating back to the 1970's. This document, contains the printed signatures of the company President and Secretary, was printed by the American Bank Note Company and measures approximately 12" (w) by 8" (h).
The unique vignette on this piece details a wind blown captain at his ship's wheel.
Images
You will receive the exact certificate pictured.
Historical Context
Overseas Shipholding Group, Inis the operator of a fleet of twenty-four oil tankers, and is based in Tampa, Florida. The company was founded in 1948.
In 1969, under the leadership of Raphael Recanati, OSG began acquiring tanker ships to transport oil from Alaska to the lower 48 US states.
In the 1990s, OSG began to acquire luxury cruise liners. In 1995, the cruise ships resulted in losses of over $12 million to OSG. As a result of the losses, Michael Recanati, the son of Raphael Recanati, was reported to have been forced to leave OSG.
The company filed for Chapter 11 bankruptcy in 2012 after the SEC accused CEO Morten Arntzen and CFO Miles Itkin of falsifying financial statements. In 2017, the company paid a $75,000 fine to the SEC to settle the securities fraud allegations. Former CFO Miles Itkin also paid a separate $75,000 fine. The executives were sued by OSG and agreed to pay a $16.25 million settlement in 2015.
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.