"Separated" from an IPO for raising salary matters

[jackofalltrades]

What is the name of your state? NJ

Edited: I deferred $15K of salary for stock. I own 17,000 and change shares of IPO stock. IPO is scheduled for mid 2010 but we could also be acquired at the right price.

I sent an email to the CFO who had been harrassing me, demoralizing me. After I sent my email (which was factual and not emotive) I was terminated the next day. I have a consult with a labor lawyer next Monday. Separated exempt employees are entitled to the FMV of their shares as of the termination date. I have been told that the shares are mine. I don't know what to believe anymore.

Do you think I should pursue litigation and wrongful termination? I did nothing wrong but set into evidence which I could back up how he mainly focused on negatives (of which there were few). Now they are emailing me 2 weeks later offering me a recommendation "despite the broken friendship".

Any views?
Many thanks.
Jack of All Trades
PS: I was the Director of Administration for an international law firm, 6 figure salary, before I took a motherhood break. I had faith in this company and took a low salary because of the stock purchases. I thought I had friends but obviously friends don't exist in the workplace. It's taking me longer than I thought it would to re-realize this - apologies for the long post.

 

[pattytx]

Can you cut that down by about 50% and just include the relevant information?

 

[jackofalltrades]

Sorry the State is NJ as mentioned

Company policy is verbal, written warnings then termination. Also, I had an oral contract with the CFO and the VC that I had a job for as long as I wanted/needed due to my loyalty.
TIA.

The relevant information is despite 2 years of loyalty, working full time hours as a part-time hire, once I set out in email how I felt the CFO was disparaging my reputation, passing the buck so to speak, I was terminated the next day (following Thanksgiving). I had asked for one day off to celebrate my daughter's play and was angry to be called the morning of my day off with his nonsense.
I advised him that I would speak directly to the Venture Capitalist re the facts of the UI case in another State and the CFO's continuous dismissal of my new HR Managerial role.
TIA.

 

[ecmst12]

Oral contracts are meaningless in employment; unless you have a firm WRITTEN contract, all employment (in 49 states including yours) is "at will" and you can be fired, or quit, at any time and for any reason or no reason.

 

[pattytx]

once I set out in email how I felt the CFO was disparaging my reputation, passing the buck so to speak, I was terminated the next day
TIA.

Putting out in an email criticizing the CFO is likely to get anyone fired. Not exactly the greatest career move, IMHO.

 

[jackofalltrades]

Thank you. It could be seen as critical but there are other issues such as "illegal" activity of backdating options, getting out of penalties with misleading information to the Workers' Comp board**************Basically, they told the auditors to stop being "adversarial" and help with the IPO bookkeeping**************...in any event all exempt employees are entitled to their stock dollar value upon separation. As of today's valuation, they owe me $60,000. The lawyer I'm meeting with (a recommendation from my old law firm) believes I have a Whistle Blowing situation in addition to wrongful termination and then finally my stock, which he views as a completely separate matter.

I appreciate those who took the time to read my long post.
Sincerely,
J

 

[You Are Guilty]

I'll add - it's not (the legal definition of protected) whistleblowing if you just 'know' some stuff, but haven't reported it to the proper authorities. (In fact, if you know of illegal activities and, in fact, helped commit or hide them, some prosecutors may call that "accomplice liability".)

 

[jackofalltrades]

Thank you for your reply.

I didn't know of anything illegal happening but I was suspicious of how the company was handling the shares earned but not yet granted, and I raised it with the CFO. After i I raised it, I was taken off the task of putting a restricted stock plan in place. I mentioned the 83B election, etc. and was told "filing an 83B is not in the company spirit". Since I'm new to stock purchases and plans, I followed instruction, not fully knowing what I was/was not doing.

As for the Workers Comp issue, I also did what I was told and also reported same to the CFO who said I'm to handle everything as per instructed.

I was always afraid of losing my job and I did what I was told. I never even put a personal item in the office - something felt off inside of me.
Thanks again.