Legal Question in Civil Rights Law in California

Breach of Settlement

I won a civil judgment in ca court almost 5 years ago.I signed a settlement agreement last May.I settled for $125k cash and 4.5 million shares of common stock worth $180k at the time.My lawyer and I agreed that he would take over $100,000 of cash and I would get stock to sell.The cash came and later the stock certificate but it was RESTRICTED STOCK.I objected and told my lawyer to file a Breach of Settlement suit pus he should put his money in escrow because our deal was based on common shares not restricted shares...he agreed but he said I already made the deal with him and that stands.I said it was never fully funded.He was suppose to file Breach of Settlemment suit months ago and have emailed him 4 times in last 5 months when the court date.He doesn't respond to my emails anymore like he did before he got the $100k cash.How do I handle my lawyer? How can I find out if he filed and when my court date is? Do I legitimate Breach of Settlement case? The stock is currently 90% less value than when I objected.


Asked on 4/11/07, 12:23 am

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Breach of Settlement

Unless it is a publicly traded company, all stock in privately held companies is generally 'restricted' common shares. If you were actually entitled to 'unrestricted' common shares of a publicly traded company, then you may have a claim. If the attorney is not responding, then get a new attorney. You need one anyway if you have any kind of claim on the old attorney. You may have already waited too long, with a statute of limitations running on your stock claim, and one running on your claim against your attorney. Don't delay further. Feel free to contact me if interested in pursuing, if the case is in SoCal.

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Answered on 4/11/07, 1:04 pm


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