Why isn't this considered wage theft? "“All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration,” "
Apparently employees were given stock options, and were encouraged to buy stock - ALL shares held by employees were Common Stock. When Private Equity bought the company, the shares were declared worthless (of course the the CEO, etc all will receive payouts).
Why isn't this considered wage theft? "“All Common Stock will be canceled for no consideration and all Options will be canceled and extinguished for no consideration,” "
Apparently employees were given stock options, and were encouraged to buy stock - ALL shares held by employees were Common Stock. When Private Equity bought the company, the shares were declared worthless (of course the the CEO, etc all will receive payouts).
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