Legal Question in Securities Law in New Jersey

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,


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

1 Answer from Attorneys

Roman Fichman Esq. Law Practice of Roman Fichman Esq.

Generally, they could do that if proper authorization was given by board and/or shareholders and you get adequately compensated. Your documents would need to be reviewed to determine all is legal in your case.

Feel free to contact my office at your earliest convenience if you would like to have the docs reviewed. The review itself should not be costly and you'll know if you need to further pursue the matter.

Roman R. Fichman, Esq. │ @TheLegalist

email: Info (@) TheLegalist (dot) com

t e l : 2 1 2 -- 3 3 7 -- 9 8 3 7

Disclaimer: This post has been written for educational purposes only and was not meant to be legal advice and should not be construed as legal advice or be relied upon. No intention exists to create an attorney-client relationship or any other special relationship or privilege through this post. The post may contain errors, inaccuracies and/or omissions. You should always consult an attorney admitted to practice in your jurisdiction for specific advice. This post may be deemed as Attorney Advertising.

Read more
Answered on 4/06/13, 8:09 pm

Related Questions & Answers

More Securities Law questions and answers in New Jersey