California Employment Law

Have California employment law questions? Ask a lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

I was off from a tech startup with vested shares. I signed a…

I was laid off from...
I was laid off from a tech startup with vested shares. I signed a purchase agreement for the shares which was cosigned by the CEO but not witnessed. The agreement was stapled to a copy of the money order that I provided for payment. The shares were databased in a 3rd party system called eshares, and eshares has a simple interface that lets the admin indicate that the share purchase was recorded and issues a stock certificate as an emailed pdf. The CEO told me in an email that she had recorded the stock sale, but I cannot get her to do the procedure to release a share certificate. She seems to be saying that the share certificate is unnecessary, but the helpdesk at eshares thinks that I should have the certificate and the last time I bought vested startup shares I received a certificate. Meanwhile eshares is saying that the vesting is about to expire.Do I need the share certificate? If so how do I get it from the CEO?
Show More
Show Less
Ask Your Own California Employment Law Question
Answered in 7 minutes by:
11/7/2017
socrateaser
socrateaser, Lawyer
Category: California Employment Law
Satisfied Customers: 39,984
Experience: Retired
Verified

Hello,

If eShares is telling you that the vesting is about to expire, then that indicates (to me) that the share purchase wasn't recorded. Otherwise eShares would know that there can't be any expiration, because the shares are purchased.

You don't need a certificate, but you need some sort of proof of purchase, and a confirmation from eShares.

You could ask the CEO for a signed letter stating that you are entitled to the shares that you have paid for. Even better would be a statement from the CFO stating that the share purchase is recorded in the corporation's journal.

Ultimately, you may need to have a lawyer send a demand letter and threaten legal action unless the formalities are complied with.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

Thanks again for using Justanswer!

Ask Your Own California Employment Law Question
Customer reply replied 7 months ago
The CFO is the CEO and I have an email from her saying that the sale was recorded. Eshares is just a service and they could stop using it. Its data is only as good as the info the company submits. Nevertheless a share cert. from EShares is a traceable legal document. So I want it unless I don't really need it. What I have is the last page of the share purchase agreement stapled to a copy of the money order that I tendered. It is signed by me and by the CEO but not notarized. Is it worth it to get a lawyer to make the CEO give me the certificate or am I just fine with what I have, please? BTW it's a private company. Also I have been told by one person that the CEO lied to him on termination. So am I on solid ground with the email plus the document I have.
Customer reply replied 7 months ago
I don't have good cell reception here

An email is pretty weak evidence of the transaction, because it's hard to prove that it was actually sent by the CEO. You need either a physical certificate, or a letter with a "wet "signature from the CEO stating that you are the owner of the shares. Without that, you could find yourself being ****** out of your shares in the future.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

Thanks again for using Justanswer!

Ask Your Own California Employment Law Question
Customer reply replied 7 months ago
OK then, are you willing to tell me approximately how much will it cost me in the Bay area to get a lawyer to write a request to the CEO for what I want? That would make me very happy.

Lawyer fees are negotiable. There is no fixed standard. I would charge you $250 to send a demand letter. But, I'm in SoCal.

I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer (click 3, 4 or 5 stars) -- otherwise, Justanswer retains your entire payment, and I receive nothing for my efforts in your behalf. Note: If you cannot find the rating button on your webpage, please just type in your rating in a response to this note, and customer service will apply the rating for you.

Thanks again for using Justanswer!

socrateaser
socrateaser, Lawyer
Category: California Employment Law
Satisfied Customers: 39,984
Experience: Retired
Verified
socrateaser and 87 other California Employment Law Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a california employment lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask socrateaser Your Own Question
socrateaser
socrateaser
socrateaser, Lawyer
Category: California Employment Law
Satisfied Customers: 39,984
39,984 Satisfied Customers
Experience: Retired

socrateaser is online now

A new question is answered every 9 seconds

How JustAnswer works:

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

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

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.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, 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!!

ElaineAtlanta, 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.

TonyApopka, 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

< Previous | Next >

Meet the Experts:

LawTalk

LawTalk

Attorney

1,285 satisfied customers

I have 30 years of experience in the practice of law, including employment law and discrimination law.

Brandon, Esq.

Brandon, Esq.

Lawyer

348 satisfied customers

Has received a certificate of recognition from the California State Senate for his outstanding legal service.

melissamesq

melissamesq

Attorney

47 satisfied customers

Represent clients to maximum recovery in employment cases.

legalg

legalg

Other

58 satisfied customers

General Practitioner. Research Attorney

Roy Hadavi

Roy Hadavi

15 satisfied customers

Attorney at Law Offices of Rosenstein & Associates

Attorney2020

Attorney2020

Lawyer.

69 satisfied customers

I have significant experience in employment law.

Legal Counsel

Legal Counsel

Lawyer

32 satisfied customers

California Licensed Attorney- 29 years- Wages, Hours, Overtime, Discrimination, Wrongful Termination.

< Previous | Next >

Related California Employment Law Questions
I just had a complaint against me that was filed with the
I just had a complaint against me that was filed with the DFEH with drawn. This was from a former tenant who claimed racial discrimination. All his allegations against me are false. I am assuming the … read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
I'd like to have clarification regarding the California
I'd like to have clarification regarding the California Labor Code in relation to the Meal Break Policy in California.I realize an employee can not work for more than 5 hours without getting a 30-minu… read more
Thelawman2
Thelawman2
Doctoral Degree
1,429 satisfied customers
I am a general contractor. A subcontractor did some work for
I am a general contractor. A subcontractor did some work for me in 2015. … read more
legalg
legalg
Other
Juris Doctorate
58 satisfied customers
I believe I am being defrauded by former employer Bank of
I believe I am being defrauded by former employer Bank of America with my pension … read more
Phillips Esq.
Phillips Esq.
Attorney
JD
19,869 satisfied customers
I have an employee that is exempt and has lots of medical
I have an employee that is exempt and has lots of medical issues regarding his daughter. Our company only has 21 employees in CA the rest of the employees are out-of-state. The problem we are having i… read more
legalg
legalg
Other
Juris Doctorate
58 satisfied customers
I was classified as an independent contractor for the past
I was classified as an independent contractor for the past 10 years. I believe that was a misclassification due to my recent research. My job title was IT computer technician and I was responsible for… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
12,171 satisfied customers
Is it legal for my employer to call and verify my Dr notes
Is it legal for my employer to call and verify my Dr notes from a year ago … read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
I met an attorney here. He suggested that I apply for a job
I met an attorney here. He suggested that I apply for a job with the same company that terminated my contract. If they rehired me what will this do to my claim?… read more
socrateaser
socrateaser
Lawyer
39,984 satisfied customers
We are a small employee and have an issue with a recent new
We are a small employee and have an issue with a recent new hire. … read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
Requesting Yepez we need to reduce our staff and will have
Requesting Eric Yepez Eric we need to reduce our staff and will have to RIF two employees do to financial situation Can you ask employees to volunteer or is there a specific criteria for the lay off p… read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
I used to work by someone. I was paid extra a good amount of
I used to work by someone. I was paid extra a good amount of $ stating in my pay-stub that this was because of a settlement, but I have never agreed to any settlement whatsoever with them. Now, becaus… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I suffer from anxiety and sometimes insomnia due to sleep
Hi there, I suffer from anxiety and sometimes insomnia due to sleep anxiety and was recommended by my doctor that I would treat my anxiety with medical THC. It made my anxiety go away and I was succes… read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
Yepez Another situation yesterday, on a roll One of our
Eric Yepez Another situation yesterday, on a roll One of our vehicles was broke down and under repair for the day, Our employee clocked in stayed at home and said that it is not her fault that the van… read more
Eric Y., Esq.
Eric Y., Esq.
Law/J.D.
305 satisfied customers
I was terminated for cause in California. I have been
I was terminated for cause in California. I have been stationed overseas on a long-term work assignment in Europe and have personal belongings in this apartment. The company has agreed to gather my pe… read more
socrateaser
socrateaser
Lawyer
39,984 satisfied customers
Damion Bosco, We have recently installed GPS tracking to our
Damion Bosco,We have recently installed GPS tracking to our vehicles Legally do wehave to inform the employees that they are being tracked This is in the State of California… read more
Eric Y., Esq.
Eric Y., Esq.
Law/J.D.
305 satisfied customers
I was hired to create and apply a special makeup effect of a
I was hired to create and apply a special makeup effect of a fat prosthetic makeup. The client made a few missteps early on, but I provided their makeup. They had me work overtime and made me believe … read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
Is this a straight forward response to performing my job
Is this a straight forward response to performing my job duties with the use of a support brace?… read more
LegalPro54
LegalPro54
Doctoral Degree
1,258 satisfied customers
My employer is not paying me my full wage because they say
my employer is not paying me my full wage because they say they have legal papers allowing them to do so and i have shown them that they are wrong and yeet they are going ahead with it anyway … read more
AlexiaEsq.
AlexiaEsq.
Managing Lawyer/Advocate
Doctoral Degree
37 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x