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Employee Stock Benefits and Discrimination

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  • 03-28-2007, 10:18 AM
    sammy1
    Employee Stock Benefits and Discrimination
    I was employee of a private company in California working there for about 5 years. About 8 years ago the company was acquired by large public company for about $85 million.


    I was one of the first few key employees when the company started. The company had allocated me stocks as employee incentive when it was private. I was terminated by the company but at that time all my stocks were fully vested. The company had 2 to 1 stock split while I was employed there and I received additional shares equal to my existing shares at that time. There were a couple of other employees with stocks who also left the company around the time I was terminated.

    Just about 2 months ago it came to my knowledge that the company had another 2 to 1 stock split while it was private and at that time I was not employee there anymore. While the other employee who had left at about same time received proper amount of additional shares to adjust for the split. But I was never issued these shares. This amounts to losing half the money I could have made during the dot com days.

    Neither the transfer agent of the publicly traded company informed me of this when I received shares of stock of the publicly traded company in exchange for stock the company I worked for. Now that company does not exist any more since quite a few years but the publicly traded company still doing well although its stock price now is 10% of the price it had during the times it I traded my shares in the dot com era.

    Now my big question: state of limitations would make my case now useless because its been 8 years since the event occurred.?

    If I still have good chance to succeed in this case what can be the possible outcome?

    Thanks much
  • 03-31-2007, 08:04 AM
    Mr. Knowitall
    Re: Employee stocks benefits and discrimination
    Given the passage of eight years and the public nature of the information, I doubt you can get anywhere. If you wish to pursue this I think you'll need the help of a lawyer who practices in the area of business torts and possibly securities law.
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