I was hoping to get some advice on how to approach this issue before I seek answers within my organization and perhaps legal consultation:
Our company was originally owned by our initial investor's LLC., and after a period of time I was awarded "warrants to purchase Class B units of the company in the future at current values." Our company was recently converted to an S-corp, with the initial investor relinquishing his involvement as a decision maker or board member. I am unsure of what his status within the company is, financial or otherwise, although I know he is not on the board of directors.
A few questions:
- What is the usual "proof" of warrants awarded? I received two separate documents outlining a general description of the warrants and how many units I was awarded, but received no "official" documents.
So considering that these were once actually real according to the documents I was presented:
What happened to the warrants I was awarded when we were an LLC? I was not informed and I (possibly stupidly) assumed they would be converted somehow when we changed as a business entity.
If I am entitled to the warrants in some form, is it the responsibility of the original LLC., or our current company as it stands?
What kind of other information about my company's change in status should I research that would be effective in pursuing answers?
If I have to pursue legal action, what kind of lawyer should I be looking for?
Thanks for any advice on this, let me know if I can provide any more info. I'd like to be informed as possibly before taking any action, including even asking questions within the organization.