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You're arguing the wrong details. From what I understand the legal corporate entity that employees had options in essentially ceased to exist before employees
by brk 14y ago
You're arguing the wrong details.
From what I understand the legal corporate entity that employees had options in essentially ceased to exist before employees had a chance to exercise their options. And, that corporation ceased to exist because it built no effective value, so employees had underwater options with no logical incentive to exercise in the first place.
Summarized as 'your options are now gone'.
- MediaSquirrel 14y agoIf the company ceased to exist, then it died in an asset sale and the founders got nothing while investors got cents on the dollar. If the company was acquired and common stock holders cashed out in a positive way, then it was a proper acquisition and OnLive was required to disclose its stock optionees and the buyer would have been required to set aside cash/stock in escrow to pay them out. Otherwise yes they would be subject to liability and lawsuits, which would be dumb to expose yourself to.
- jamesmcn 14y agoThis is a thing that happens. Be careful who you pick as your business partners.