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Want to sell your Amtrak stock? Here's your chance ...

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As of September 30, 2012, Amtrak had 9,385,694 shares of common stock issued and outstanding. The par value is $10 per share. The largest single shareholder appears to be American Premium Underwriters. It owned 55.8 per cent of the issued and outstanding shares. Some time between 1997 and 2002 Amtrak offered to buy back all the outstanding common shares at 3 cents per share, although it believed that the shares were worthless. The major shareholders refused the offer in a letter dated November 2, 2000. In May 2008 American Premium Underwriters brought a lawsuit against Amtrak.  It claimed that Amtrak had eroded the value of the stock. Apparently the suit is still before the courts.  American Premium is seeking damages of $52 million plus 40 years of interest. The common stockholders have voting rights for amendments to Amtrak's Articles of Incorporation proposed by the Board of Directors.  Thus, it appears that the stock is valuable in that it gives the holders a voice at the table albeit a weak one. PassPortRR may see a commercial advantage in having a voice on amendments to Amtrak's Articles of Incorporation.  Or it may believe that owning the stock would allow it use options to speculate on which way the stock is likely to move.  Or it may have a hidden agenda that no one knows about.
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