How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Law Pro Your Own Question

Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 1666
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
Type Your Business Law Question Here...
Law Pro is online now
A new question is answered every 9 seconds

I am an ex employee of a successful, privately held start up

Customer Question

I am an ex employee of a successful, privately held start up company that has grown profitable. I am vested with a block of ISO stock options. I bought and paid for my stock options within the required 30 days of my departure date. The company was funded with a combination of four different VC groups in the first (5) years. The company is now 10 years old and as far as I know the original funding groups are still in their investment positions.

As far as I know nothing has changed in the planned exit strategy of selling the company to an interested acquiring company. Since leaving the company several years ago, and having been verbally promised we stockholders would be getting, at least, an annual written update that would be sent to the group, I have yet to get any formal updates on the status of the company.

I have been patient, but am now growing very concerned about the outcome. As the expiration of the ISO plan is coming up in a year, I have been recently sending email written requests for that formal update to the CEO and CFO. Short of starting to call them directly on the telephone, I have yet to get any response.

My primary and secondary questions are: What legal obligations does the CFO/CEO have to me (all of us ISO stockholders) for communicating company status and future plans? If they have no legal responsibilities to communicate their plans to me/us, what potential problems could I generate for myself by formally making my requests directly the board of directors of this company - of which the CEO is the Chairman of Board of Directors? Secondly, as the ISO plan expires in a year, what should I expect for the company to modify, or renew the plan to maintain continuity?

I want answers and believe I am entitled to get some from them. I am trying to assess the risk of my rattling the doors at the BOD level and what they could mean for my downside.
Submitted: 3 years ago.
Category: Business Law
Expert:  Fran-mod replied 3 years ago.

My name is Francine, and I’m a Moderator for JustAnswer.

I'm sorry you haven't received an answer yet.

The response rate on JustAnswer is usually over 95%, but delays can result depending on the number of Experts online, the question volume, and the difficulty level of the question.

If you would still like to receive an answer from an Expert, just let me know, and I will do my best to assist you by finding an Expert to help you.

If you have any questions regarding deposits or billing, please feel free to use the help link below:

http://ww2.justanswer.com/help.


Regards,


Fran
JustAnswer Moderator

Customer: replied 3 years ago.
Fran,

I posted a question(s) and received a response immediately, however, his first reponse made it clear he did not carefully read what I wrote. I asked for a clarification on that point, he responded and acknowleged the public/private difference - his mistake.

Next, I delved into the second point more precisely, he responded again.

With that, I wanted to get more consensus, so that is why I posted the same question a second time - thus your reponse to me. I hope this explains my question more accurately.

Now, with that said, my wife was the person who referred me here in the first place. We were discussing this topic last night and discovered that the expert that responded to me was the same expert who interacted with her and she was very pleased with his responses, overall.

Now, as I am still learning your system, I am going to accept his answers, but ask the same question again to try and get other opinions as I am not entirely sure this expert undstands the explicit nature of my question.

Michial
Expert:  Fran-mod replied 3 years ago.
Hi,

Thanks for your information. I see you have relisted your question and it's been answered. I'm just going to close this one as a duplicate. No need to reply as all that will do is reopen it.

Regards, XXXXX XXXXX a good weekend,

Fran
Moderator, JustAnswer

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • Law Pro

    Attorney

    Satisfied Customers:

    1426
    20 years experience in business law - sole proprietor, partnership, and corporations
< Last | Next >
  • http://ww2.justanswer.com/uploads/LA/lawpro/2012-6-25_171315_PT206740s.64x64.jpg Law Pro's Avatar

    Law Pro

    Attorney

    Satisfied Customers:

    1426
    20 years experience in business law - sole proprietor, partnership, and corporations
  • http://ww2.justanswer.com/uploads/DC/DCraneEsq/2012-8-14_14436_DCrane.64x64.jpg MShore Law's Avatar

    MShore Law

    Attorney

    Satisfied Customers:

    1233
    Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    1162
    25 years of experience helping people like you.
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    1142
    Run my own successful business/contract law practice.
  • http://ww2.justanswer.com/uploads/ohioatty/2009-1-22_185545_me.jpg J.Hazelbaker's Avatar

    J.Hazelbaker

    Attorney

    Satisfied Customers:

    393
    Experienced and trained in the area of business law.
  • http://ww2.justanswer.com/uploads/scottymacesq/2009-6-10_221523_small.jpg RGMacEsq's Avatar

    RGMacEsq

    Attorney

    Satisfied Customers:

    393
    Licensed Texas General Practice Attorney
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Attorney

    Satisfied Customers:

    301
    13 years practicing attorney, MBA
 
 
 

Related Business Law Questions