Quick background on my situation — any input appreciated.
VC demanding 2x liquidation preference. I've been dealing with this for about 9 months now and the situation isn't improving.
I have already tried to resolve this directly but got conflicting advice.
What are my legal options here? Is it worth pursuing?
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.
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.
I'd recommend documenting everything in writing from this point forward. Keep copies of all communications.
Been there. Here's what I learned.
I ended up filing with the appropriate government agency, which cost about $4-8 but saved me a lot more in the long run.
I've seen this play out several times in my field.
I ended up escalating to a supervisor/manager, which cost about $1-3 but saved me a lot more in the long run.
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