Memorable Business / Corporate Cases Attorney in Wellesley Hills, Massachusetts

Judgment for Sales Executive in Stock Options Dispute

Wellesley, MA attorney Bill Royal talks about a memorable case where he was able to obtain a strong victory for a client who was denied stock options promised by his employer.

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So we do a lot of business disputes as I may have mentioned and also business breakups and working among senior executives. In this case a senior executive, founder of the company was promised various stock options, in a matter of fact, in a recapitalization they gave out about $36 million worth of compensation for this. And of the 60 or so people that received the compensation next to his name was a dash. So he was a little bit upset about that ‘cause that was worth some million, million and a half dollars. And we were forced to sue, it was a two-week jury trial, the challenge was that we had a series of executives all who were in lockstep in their, from our perspective, lies.

And so, we were able in depositions to, in effect, show that they were in contradiction with all of the records that their own company was putting forth. And I think one of the more memorable moments in that trial we were presenting a deposition of the chairman of the board and the jury was laughing. And the jury was laughing because the questions were being answered in such an absurd way that they were wholly contradictory. I think it was a very tough trial because there was a lot of evidence that the promise that was made might have been too vague or indefinite. But in this case, we were able to show that it was really clear, he had taken steps to rely on the promise, and they awarded everything that we sought. So at the end of the day it was abut a $2.3 million judgement.

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