alt Hacker NewsYeah. The issue being that at the time both the CFO and their external counsel Cooley told me in writing that 15,625 shares had vested. Those representations were incorrect. And I (quite reasonably) replied on them rather than checking the original documents. Which I did only 30+ years later. In legal terms, the CFO Gani’s 1996 letter is a negligent misrepresentation, a species of fraud under Cal. Civ. Code § 1709-1710.
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What happened to 15,625 shares you did exercise? I guess they are worth over $1.5 billion as of today?
> And I (quite reasonably) replied on them rather than checking the original documents.
Putting aside the fact that any claims here are almost certainly time barred after 30 years, ostensibly, your attorney explained to you that because you had the grant in your possession, claiming that you reasonably relied on the company's statement about what the grant said would weigh heavily against any misrepresentation or fraud causes of action in a lawsuit.
Equitable tolling??
Might as well sue.
I'm no expert, but did your lawyers clarify if a statute of limitation start from the date you learned there might be a discrepancy, instead of all those years ago?
While no one's hands might be clean in this, at the end of the day the party with the resources and expertise is equipped differently.
It might not hurt to get some more opinions even if they end up in the same place.
Well, the bad news is that the statute of limitations on that appears to be three years in California.