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Co-Founder Equity Split — convertible note maturity extension

Started by confused_worker_help · Feb 28, 2025 · 874 views · 7 replies
For informational purposes only. This is not legal advice. Laws vary by jurisdiction. Consult a qualified attorney for advice specific to your situation.
CW
confused_worker_help OP

I've been trying to resolve this on my own but I'm stuck.

convertible note maturity extension. I've been dealing with this for about 15 months now and the situation isn't improving.

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

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

NR
NurseUnion_Rep

I've dealt with this before.

What worked for me was escalating to a supervisor/manager. It took 1-3 months but was worth it.

NH
need_help_parent_advice

Following this thread — I'm in a very similar situation. Would love to hear how it turns out.

LT
LandlordTom_TX

I went through almost the exact same thing.

I ended up hiring an attorney to send the initial letter, which cost about $2-4 but saved me a lot more in the long run.

TL
Mod_TermsLaw Moderator

Licensed attorney — a few thoughts. Here's my take on the legal issues.

This is a common situation and the law is fairly clear. Under the relevant statute, actionable.

I'd recommend documenting everything in writing from this point forward. Keep copies of all communications.

LT
LandlordTom_TX

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.

FT
first_time_contractor_MA

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.

WC
worried_creator_NC

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.

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