New Jersey  |  Securities Law

Legal Question

Asked on: 4/06/13, 12:02 pm

I own common stock in Infoglide, an Austin Texas technology company. I was an original employee and paid cash to turn my options into common stock. The company has been purchased by Fair Issac(FICO). I received a filing today that says the Infoglide Board had created a Preferred series of stock that only they own and that stock will be purchased by Fair Issac and all other stock including common stock is now worthless. Can they do that. Is this legal?

Thank you,

Bob

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