California Employment Law
California Employment Law Questions Answered by Legal Experts
I am ok waiting
This answer is obvious, some reference directed towards weather a sale of the company would affect my case and what my timeline is to file this case in the state would have satisfied my concerns at this point in time?
New expert here....
If the business owner has refused to pay you the equity payments that you are entitled to, then your recourse would be to file suit against him for breach of contract for the entire amount of the contractual agreement as well as for any attorney fees you may incur in the proceeding.
The sale of the business would not affect the underlying contract unless the seller was incorporated and then dissolved their business. But in a case like this, the sooner a suit is filed, the better. If you could get it filed before any actual sale takes place, you could also ask for injunctive action to be issued to prevent a sale until your claims are heard. This can put a lot of pressure on the seller to pay you so that the business can be freed up for a sale. It will also spook the buyer because no one wants to buy a business while it is the subject of a lawsuit.
Due to the amount, you would need to contact a civil litigation attorney to represent you and file the lawsuit. If he moved quickly, he could file a bare bones complaint in a day or two just to get things started and make it public knowledge and then come back and amend the complaint to flesh it out. As soon as it is filed, he could then notify the potential buyer that the business was the subject of a breach of contract suit and that would definitely cause the buyer to step back until it was cleared up.
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