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Litigation Services > Synopsis of Litigation Cases > Long Time Employee* Vs. Major Computer Manufacturer (Northern District, Florida-Federal) |
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An employee of a major computer manufacturer refused to accelerate the vesting of a large quantity of stock options to a woman who had become fully disabled. Important to this case was the discovery of the details of plan documents and the company's own promises in its plan descriptions. Analysis and research found that the company held out specifically the promise that the stock option program was so "rich" that in the event of death or disability the employee would probably not require life insurance or other income protection. The company specifically stated that in the event of disability the stock option grants would accelerate to 100%. The expert research found the pattern of denying the options as inconsistent with the research into company plans that indicated she was entitled to her options. After viewing the expert report the company changed its mind and to avoid trial allowed for the vesting of millions of dollars worth of options.
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