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Convertible Note Issue: VC demanding 2x liquidation preference

Started by jchen92_13 · Mar 12, 2024 · 963 views · 2 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
JC
jchen92_13 OP

Has anyone dealt with something like this? I'm not sure what my options are.

VC demanding 2x liquidation preference. I've been dealing with this for about 4 weeks now and the situation isn't improving.

I have already consulted briefly with a lawyer but got conflicting advice.

Am I overthinking this or is this a real legal issue worth pursuing?

TC
two_cents_here_22

This happened to me too. Have you tried filing a complaint with the relevant agency? In my case they investigated and it got resolved without needing a lawyer.

GH
grace_h_30

Look, i work in this industry and unfortunately this is very common. The good news is that when people actually push back with legal representation, companies usually settle.