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No, the company was failing and the board decided that this was the best way for the investors to recuperate some of their lost capital. If they waiting longer
by librish 8y ago
No, the company was failing and the board decided that this was the best way for the investors to recuperate some of their lost capital. If they waiting longer they would've had to sell for less or go bankrupt which would have lost everyone even more money. (Obviously employees were already at $0 so they couldn't lose more).
- mamon 8y agoAs someone else already noted in this thread: employees were the only ones who actually made money on this company, in form of their salary received over the years. It's only the equity part of their compensation that went to $0.