Can anyone lend me some corporate/legal advice regarding vested options from a former employer? It looks like my vested options were converted last year to common stock and this year there was a capital restructure which completely deleted 98% of my shares. I had 3,056 shares and now I have 61 total.
Context: I was with a former mortgage lending company (Better Mortgage) with 1,000 vested options. Upon their merger with SoftBank, my options were converted to Class A Common and Class B Common stock. Approx 61 Class A and 2,995 Class B Common Stock. Better Mortgage went under a capital restructure last week which completely annihilated 2,995 of my shares.
Is this legal? I feel like I've been had. What little hope I had for this company is completely guttered now. I was hoping I could see some money but it doesn't seem likely now.
Side note: 2,995 shares were removed from my portfolio and I won't see a single penny of it. What can I do?
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