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So if the issue of stock wasn't in writing for a Delaware company, then his 50% claim is not valid as he was never issued stock? I'm sure #2 is a non issue for
by theoracle101 10y ago
So if the issue of stock wasn't in writing for a Delaware company, then his 50% claim is not valid as he was never issued stock? I'm sure #2 is a non issue for Cruise
- rayiner 10y agoMaybe. Guillory doesn't need to show he was issued shares to win. If Cruise promised him 50% equity, and didn't issue him any shares, that would be a breach of contract. Guillory would get damages not because he actually owned equity in Cruise, but to compensate him for the equity that was promised to him but never issued as shares. Contract damages put you in the place you would have been had the other side kept their promises.
- theoracle101 10y agoIsn't there a statue of limitations for this? It's been over 2 years and he never lodged a complaint
- bewatson 10y agoOn top of what @theoracle110 said, would other contracts in previous investment rounds (in which Jeremy did not speak up) have any power/relevance?