Legal Question in Family Law in California

Divorce agreement

In my divorce decree we agreed that if my ex's company went public I would receive 750 shares at the purchase price of $.10 a share and I was to be informed of this when the option to purchase became available.The company went public 10/2007 and I was just informed on 4/5/08 is my first problem, the 2nd is nowhere in the agreement is there any mention of what happens if there is a reverse split or a positive split... just that I would receive 750 shares.I was informed they had a reverse split of 4.75 and so I now only get 157 shares. Is this legal, or am I entitled to the 750 shares as agreed upon?


Asked on 4/07/08, 4:26 pm

2 Answers from Attorneys
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: Divorce agreement

it seems you should get 750 shares retroactive to October 2007.

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Answered on 4/09/08, 12:18 am
PATRICK MCCRARY PATRICK MCCRARY

Re: Divorce agreement

To give a good answer to that question I would have to review the judgment. I charge $75 for a consultation and if faxed the judgment the consultation could be handled by the telephone. Probably, the option would be for the original issuance of the shares, however, if he delayed, there may be a good argument that the option aplies when you are notified. Good Luck, Pat McCrary

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Answered on 4/09/08, 12:51 pm


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