| My ex and I have been separated for 4 years an divorced for over 2 years. The PSA says she has the right to determine the exercise and sale date etc. of certain stock options held in my name. We had 7000 options left that expired January 26, 2001. In mid December, I realized I would be in a remote area of Mexico with intermitten phone, no internet from 11 January to 30 January. I notified her and asked what she wanted to do. She wanted to hold hers until 26 January. since I couldn't safely exercise them then I pressed her for an action to place a sell order. She sought advice and emailed me in January from her Merrill Lynch advisor's office to sell 3000 shares at $95 and 1000 at $100, which I did along with my shares at the same prices. 3000 of hers (plus 2000 of mine) sold at $95 on January 8th and her 1000 (and 1000 of mine) for $105 on January 18th ($5 higher than the sell order).The cost basis of the options was $31. On January 26 the share price went to $115 per share. I was able to call the broker on January 25 to determine the sell orders had executed as our/my concern was the price would drop! The shares had traded as low as $81 in December. She recently had her lawyer send me a letter claiming I owe her $70,000, the difference if she sold all of her 4000 shares at $115 on January 26th., or she will sue me. We sent her a letter saying, we followed a proceedure used many times by us in the past, I followed and executed the sale according to her orders and did the exact same for mine.
How strong his her case to collect $70,000. from me.
Thanks, Bob
[Edited by libutti on 03-11-2001 at 01:14 PM] | 
03-10-2001, 05:54 PM
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