I've been trying to resolve this on my own but I'm stuck.
VC demanding 2x liquidation preference. I've been dealing with this for about 7 weeks now and the situation isn't improving.
I have already tried to resolve this directly but the other party is not cooperating.
What's the typical outcome in situations like this?
Tbh 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 think half the threads here are about this exact issue.
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.
Yep, this is textbook.
What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.
Not a lawyer, but I have direct experience with this.
What trips people up most is escalating to a supervisor/manager. I'd recommend following the formal complaint procedure instead.
Tbh following this thread — Following this thread -- same thing is happening to me right now.
Have you tried reaching out to your state's bar association? They sometimes have free resources or mediation services.
I've dealt with this before.
What worked for me was filing with the appropriate government agency. It took 4-8 months but was worth it.