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[–] [S] 69 points 1 year ago (11 children)
  • [–] 36 points 1 year ago (3 children)

    Grounds for serious litigation right there

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  • [–] 4 points 1 year ago (1 child)

    I don't think it is unfortunately because this is completely legal as long as it was laid out in the terms of the stock when it was purchased.

    This isn't preferred stock that we're talking about, this is common stock and most of the time that type of stock is given out to employees as like an incentive program and generally hold no actual weight in the company itself and is the least priority when these types of sales occur.

    Basically, if they wanted to initiate litigation on this, their argument would have to be either that they were misled of the type of stock that they were purchasing, or that they didn't adequately state the financial risks of the stock.

    By all means, I think they should try, especially that guy that said that they invested $10 million into that company and is losing it. I just don't think it will go anywhere.

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  • [–] 12 points 1 year ago

    One time, I had my shares reduced in value when my employer sold. I didn't know they could just write them off at $0.

    I suppose it could be argued that, as an "investment" stock's value (even pre-IPO) is fungible and not guaranteed. Still, this smells like theft.

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