Employer broke oral commitment on equity offer after I joined the company

Status
Not open for further replies.

poordidi

New Member
I joined a start-up company late 2007. Right before I join, this company was acquired by a big corporation. When I negotiated my offer, founder of the company and my manager told me they cannot give me a specific number of how many shares of equity (or stock options) they can offer to me because the company was under acquisition and they could not control it. But they promised me they would settle this immediately when acquisition process is finished.

After merge is finished in middle 2008, when I asked my employer about the equity offer, they started making excuses and it's still unsettled now.

It's oral commitment, no document or contract. The headhunter can prove my employer promised this.

What can I do? Can you please give me some advise?
 
All you can do is talk to an attorney and see whether or not the "oral agreement" is legally binding. Verbal contracts can be binding but they can also be hard to prove.
 
Contact an employment attorney that deals with contracts or wage issues.
 
Status
Not open for further replies.
Back
Top