Selling shares back to a company. They want to buy them back for FMV price, which is dramatically lower than cost basis.

I want to sell my shares (25,000) back to a startup I used to work for. The shares are worth $2.50. They’re saying they can only buy them back at fair market value, which they’re saying is “under $0.50 per share”.

Can they legally slash the price of my shares during a buy-back after telling me they’re worth $60,000+?

I’ve heard from other ex-employees of the company that they have gone thru pretty crazy situations with them also involving their shares (being forced and threatened to sell them back to the company, etc.) — needless to say, I wouldn’t put it past the co to do something shady.