The once-trendy, San Francisco-born coffeeshop chain Philz Coffee has struck a deal to be sold off to a private equity firm for $145 million, but any employees who bought stock are getting the shaft, as they won’t see a penny of that money.
*There are usually laws that the first debt in line is unpaid wages. I’m surprised that vacation time wouldn’t be included in that. Employees’ stock and options though are the same as any other stock: worthless.
That’s the only way this makes sense.
*There are usually laws that the first debt in line is unpaid wages. I’m surprised that vacation time wouldn’t be included in that. Employees’ stock and options though are the same as any other stock: worthless.