Legal Question in Business Law in Delaware

This is a serious matter that needs to be addressed as soon as possible. Generally speaking, though following the notice rules and giving proper notice is extremely important courts do not necessarily invalidate other methods of notice. Unfortunately without reviewing the founder agreements, bylaws and the actual circumstances it is impossible to determine your rights and the notice requirements. If the value of your equity or contribution to the startup is important to you, then consider retaining an attorney to help you in the matter.

Generally the review process should only take a few hours and is not costly. At the end of which you will know what your rights are and the course of action you should consider. My practice is mostly focuses on startups and such issues come up all the time. Please contact my office at your earliest convenience to get started.

Roman R. Fichman, Esq.

www.TheLegalists.com │ @TheLegalist

email: Info (@) TheLegalists (dot) com

t e l : 2 1 2 -- 3 3 7 -- 9 8 3 7

Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.

It is not possible to give a definitive answer without reviewing the Bylaws (or Operating Agreement if it is an LLC). That would define your rights as a shareholder and the notification requirement for exercising repurchase rights.

Assuming this is a Delaware entity, you will need a Delaware-admitted attorney to file litigation if that is indicated. The first step is to review the relevant documents.

Please feel free to contact me should you want to discuss this matter further.