After losing company stock Philz Coffee baristas get $525 'thank you' payments (missionlocal.org)

“Those who hold common stock, like employees who bought stock during or after their years at the company, will see their stock canceled under the terms of the agreement, making those investments effectively worthless.”

Get a securities lawyer, sue and then lob a bunch of state and federal complaints against any lawyers or bankers involved. Cancelling stock outside liquidation is bonkers.

Sounds like there's more to the story than is being reported

> The dissolution of common stock is rare outside of cases of liquidation or bankruptcy,

Without exception, every startup my friends and I have worked at that got acquired dissolved the common stock and made the options worthless.

So poor baristas paid thousands to exercise options and got them cancelled? Isn’t this just theft?

Why in the world would the executive even want to stay after all this nonsense and mistreatment has been reported? I think I would bury my head in shame…I think. Hold my beer, Andy Byron, I will screw the entire company. SMH!

Why would the executive even want to stay after this nonsense? Like, Here Andy Byron, hold my beer, while I screw ALL my company. SMH