Unvested Shares Repurchase Rights

Summary

If a company dissolves and reforms, potentially using your research without compensation, you may have a case for breach of contract or fraud. Review your employment and stock agreements for clauses on dissolution and stock rights. If your work was created independently, intellectual property rights might also be relevant. Consider consulting a lawyer to discuss your options further.

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I live in new york. I was a product designer for a tech startup who recently fired me after working there for 3 years. I had stocks invested in teh company. once I was fired, the company "dissolved" and created a new company using all of my research. Since the previous compoany resolved, they took all of my stocks away and claimed tahy can do that beacuse teh company i originally invested in dissolved. Do i have a case to sue?
Hi ****, based on what you've described, you might have a case. Here are a few points to consider:
- Breach of contract: Check your employment contract and stock agreements for clauses related to dissolution and stock rights.
- Fraud: If the dissolution was a scheme to deprive you of your stocks, it might constitute fraud.
- Intellectual property: Your research being used without compensation could be an issue.
Would you like more information on how to proceed with these points?
The work I gave them was created outside of work hours through reading
Hi ****! Since your work was created outside of work hours, you might still have a strong case. Here are some points to consider:
- Intellectual Property Rights: Ensure you have documentation proving the research was done independently.
- Employment and Stock Agreements: Revisit these documents for any relevant clauses.
Would you like assistance in finding a lawyer to discuss your case further?
Here is what the clause says "Vested Shares.” *.* Exercise of Repurchase Option. At any time within ninety (*) days after the Purchaser’s Termination Date, the Company, or its assignee, may, at its option, elect to repurchase any or all the Purchaser’s Shares that are Unvested Shares on the Termination Date by giving Purchaser written notice of exercise of the Repurchase Option, specifying the number of Unvested Shares to be repurchased. Such Unvested Shares shall be repurchased at the Purchase Price Per Share, proportionately adjusted for any stock split, reverse stock split or similar change in the capital structure of the Company as set forth in""
Your case appears to be strong, given the company's actions regarding the dissolution and subsequent use of your research. Here are some key points to consider:
- Employment and stock agreements: Review these documents for clauses related to company dissolution and stock rights.
- Breach of contract: The company's actions might violate the terms of your agreement.
- Intellectual property: Your independent research being used without compensation could be an issue.
Would you like more information on how to proceed with these points?
"At any time within ninety (*) days after the Purchaser’s Termination Date, the Company, or its assignee, may, at its option, elect to repurchase any or all the Purchaser’s Shares that are Unvested Shares on the Termination Date by giving Purchaser written notice of exercise of the Repurchase Option, specifying the number of Unvested Shares to be repurchased. Such Unvested Shares shall be repurchased at the Purchase Price Per Share, proportionately adjusted for any stock split, reverse stock split or similar change in the capital structure of the Company as set forth in Section *.* of the Plan occurring after the Effective Date (the “Repurchase Price”). T5.*. The Company may, at its option, decline to exercise its Repurchase Option or may exercise its Repurchase Option only with respect to a portion of the Unvested Shares."
Hi ****! Based on the clauses provided, you may have a strong case for several reasons:
- Breach of contract: If the dissolution was not genuine and designed to deprive you of your stocks.
- Fraud: The creation of a new company using your research might constitute fraud.
- Intellectual Property: Your independent research being used without compensation.
Would you like help finding a lawyer to discuss these points further?