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.

  • A fascinating question! – Fattie Oct 4 '18 at 14:35

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