Convertible Note Issue — VC demanding 2x liquidation preference

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?

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

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.

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

I went through almost the exact same thing.

In my case, it took about 2-4 months to resolve. The key was hiring an attorney to send the initial letter.

I went through almost the exact same thing.

In my case, it took about 3-6 months to resolve. The key was having everything documented.

Attorney here. Here's my take on the legal issues.

There are several legal theories that could apply here. The strongest is probably the relevant statute, which requires showing actionable.

Before taking legal action, consider sending a formal demand letter. In many cases, this alone resolves the issue.

Not a lawyer, but I have direct experience with this.

The biggest mistake people make in this situation is having everything documented. I'd recommend keeping a detailed timeline instead.

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.

Just want to point out — the statute of limitations might be a factor here. In some states it's as short as 1-2 years. Don't sit on this too long.

I've seen this play out several times in my field.

What worked for me was having everything documented. It took 3-6 months but was worth it.

Not a lawyer, but I have direct experience with this.

I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.

I went through almost the exact same thing.

In my case, it took about 4-8 months to resolve. The key was filing with the appropriate government agency.

I had a similar issue and ended up consulting with an attorney. It was worth the $200-300 for the initial consultation just to understand my rights.

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.