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Patrick, Esq.
Patrick, Esq., Lawyer
Category: Employment Law
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Experience:  Significant experience in all areas of employment law.
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I was employed 30 years at the same company. During the big

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I was employed for over 30 years at the same company. During the big economic downturn I was laid off ( 03/2009 ). The website for my prior employer says it became employee owned in 2008. I am entitled to any monetary compensation?
Submitted: 1 year ago.
Category: Employment Law
Expert:  Patrick, Esq. replied 1 year ago.

Hello and thank you for entrusting me to assist you. My name is ***** ***** I will do everything I can to answer your question.

"Employee owned" simply means that employees possess shares of the company's stock. Shares were either given to you while you were employed or they were not--you would almost certainly know if they were. Your employer would not have been obligated to provide you with shares simply because they were doing so for other people. So, if you were not awarded shares while you were employed you would have no equity stake in the company now. It can't hurt to inquire with HR if any shares were ever issued to you while you were employed, but again, I think the odds are very low that you would have somehow been given shares and not been told about it.

I hope that you find this information helpful. Please do not hesitate to let me know if you have any questions or concerns regarding the above and I will be more than happy to assist you further.

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