Legal Question in Employment Law in California

Unpaid Stock

I worked for a company promising 5% over the first 3 years of working there - after 8 months we parted ways and the agreemnet I was given was that I would get my vested portion of the 5% totaling 1.1% - I had problems getting the stock and was told the cxompany was going bankrupt - I heard later that they recieved a couple million in funding - I asked for my 1.1% but I have been told that my share was diluted and is almost worthless now - I don;t believe that is what happened and I would like written proof - I believe they actually sold a portion of the company making my percentage worth even more - what can i do to verify what really happened?


Asked on 5/10/06, 8:01 pm

1 Answer from Attorneys
Terry A. Nelson Nelson & Lawless

Re: Unpaid Stock

Check the public records of sale, SEC records, etc. You will have to prove the stock agreement terms; normally upon leaving you lose those rights. An attorney could put leverage and pressure on the company to disclose the facts and allow you to determine what remedies make sense to spend money on . Contact me if interested in doing so.

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Answered on 5/16/06, 6:24 pm


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