Legal Question in Business Law in Massachusetts

Re: Stock Options Elimination

I need to know a lot more. This would be covered by the Employment Retirement Income Security Act of 1974 - a federal law commonly referred to as ERISA. There are many issues that could come into play, but I will only deal with the most glaring issue.

The employer - or plan administrator - cannot intentionally interfere with an employees benefit in a benefit plan. To determine whether this happened, I would need to know more about the plan and the terms of that plan, your rights, other employees affected, etc. These are not particularly easy cases to prove, because you have to prove that the employer specifically intended to interfere with the right to a particular benefit. This is why it's so important that I have a lot more information (and much more than I list here).

In terms of possibility getting "other compensation" - that depends on the nature of your employment contract - assuming you have one. If you don't, I'm afraid there is little you can do.

Re: Stock Options Elimination

You will have to have a lawyer look at the plan document and determine whether you had any vested rights. I can't give you a better answer without seeing the plan.

Best wishes,

LDWG

Re: Stock Options Elimination

Your question is controlled by the document that created this benefit. Generally these are complicated programs and not drawn to the benefit of the employee. Check the document carefully and then contact an attorney who deals in employee benefits programs. Mass Bar has a referral service