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Equity Crowdfunding — co-founder leaving before cliff

Started by just_curious_driver_NC · Jun 10, 2023 · 1,058 views · 3 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
just_curious_driver_NC OP

Looking for advice on a legal issue. Here's what happened.

co-founder leaving before cliff. I've been dealing with this for about 4 months now and the situation isn't improving.

I have already done some research online but the other party is not cooperating.

What are my legal options here? Is it worth pursuing?

TL
Mod_TermsLaw Moderator

I specialize in this area of law. Here's my take on the legal issues.

The legal framework here involves both federal and state law. At the federal level, the relevant statute. Your state may provide additional protections.

You should consult with a local attorney who handles these cases. Many offer free initial consultations.

OD
OpenSourceLawyer_Dan

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

The biggest mistake people make in this situation is hiring an attorney to send the initial letter. I'd recommend being patient with the process instead.

FT
first_time_buyer_legal

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.

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