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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Legal
Satisfied Customers: 114048
Experience:  JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law
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Not sure. I am teh CEO of a small company that is being

Customer Question

Not sure. I am teh CEO of a small company that is being sued
JA: Because laws vary from place to place, can you tell me what state this is in?
Customer: CA and NV
JA: Have you talked to a lawyer yet?
Customer: The person suing the company made a 500k convertible note investment in the C Corporation called Maas Global Solutions.
JA: Anything else you think the lawyer should know?
Customer: They also opened up a lawsuit against me personally since I am the CEO.
Submitted: 7 months ago.
Category: Legal
Customer: replied 7 months ago.
Is this being published for anyone to view?
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Unfortunately, pursuant to our terms of service everything here is open to public view unless we get customer service to lock it upon completion.
What is your question for us about your situation?
Customer: replied 7 months ago.
I am CEO of a company that had someone invest $500k in a convertible note for 10% of the company once converted. We paid interest during the three years and when it came time to convert, the investor wanted to get $250k cash out. We did not have hte money but we agreed to do what we could. We paid $50k but did not have hte rest due to other company issues. One year ago they opened a lawsuit against the company and another against the CEO, me. The company entered into Chapter 11 BK last September, 9 months ago. They have since stopped pusuing the company and have only pursued the individual claiming fraud. What kind of lawyer should I get to help me with this and how do I know a good one?
Expert:  Law Educator, Esq. replied 7 months ago.
Thank you for your reply
You are still going to need a corporate law attorney, no different than the company would if the claim against the company would have proceeded. Proving fraud is quite difficult, so he has a tough case unless he can prove some intent to take his money and never give any return on investment. If he cannot meet that burden, a decent corporate attorney should be able to get the case dismissed based on protection you have through the corporate veil protections.
I would say the best way to find a good corporate attorney would be the same sites used by other attorneys, http://www.lexmundi.com, http://www.superlawyers.com or http://www.hg.org. These sites give brief biographies about the attorneys and the attorneys are peer reviewed in order to even get onto the sites.
Customer: replied 7 months ago.
Thank you. I will try to find a good Corporate Lawyer then.
Expert:  Law Educator, Esq. replied 7 months ago.

Thank you for your reply.

If you would like this thread locked for privacy, let me know and after you leave positive feedback I can contact customer service and let them know.