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Who are they going to sue? Themselves from 5 years ago for not reading the contract they signed? Skype doesn't seem to be an option as they explicitly wrote out
by ecopoesis 15y ago
Who are they going to sue? Themselves from 5 years ago for not reading the contract they signed? Skype doesn't seem to be an option as they explicitly wrote out in their contracts what they were going to do.
It's hard to feel bad for the folks getting their options canceled: this eventuality was right there in black and white. It like people with ARMs that adjust after 5 years suddenly not being able to pay they mortgage, and not being able to sell their house because it's underwater. It's clear from the day you sign the contact that this could happen, yet they only thought about the futures where everything went their way and they made millions on options / flipped their house for millions.
Contracts are easy: don't sign if you don't understand it, and if you don't understand it find someone who does and make them explain it to you until you understand it.
- kumarvelous 15y agoIt's unclear whether the employees were given the Management Partnership Agreement for review. If not, they were induced to enter the stock option grant agreement with material terms not being "explicitly [written] out" and disclosed to them.
- pbreit 15y agoDid you read the article? It was _not_ there in black and white. If there are grounds to sue, and it appears there are, there are obvious defendants.
- ecopoesis 15y agoBut it is black and white. If employees didn't like they contact, or weren't able to see part of it, they didn't have to sign it. Choosing to not read the Management Partnership agreement or even investigate it at contract signing time is negligence by the employee. They can whine about not being told as much as they want, be it is there and written down.