1. Hire the best lawyer you can afford. This is easier said than done because there are relatively few lawyers who are qualified to do this kind of work. The ones who are qualified will be very expensive and unless I’m missing some key details, I don’t think you have much chance of coming out of litigation with a profit. You might come out with a W, but I don’t think it will be worth the cost.
2. Assume that this startup is fucked, leave and keep a good relationship with the seed investor.
3. Assume that this startup is fucked, stall for a month until you actually own stock and then you have some leverage. BUT, depending on where you live, you may/might/likely will incur a tax liability on those shares. If you already assume that the startup is fucked, talk with an accountant to figure out what this strategy will do to your 2020 taxes owing.
4. Assume that the startup is fucked and name the company/your cofounder. It would be damned nice to avoid this toxic piece of shit in the future.
Outside of those options, I don’t see any other good choices.
1. Hire the best lawyer you can afford. This is easier said than done because there are relatively few lawyers who are qualified to do this kind of work. The ones who are qualified will be very expensive and unless I’m missing some key details, I don’t think you have much chance of coming out of litigation with a profit. You might come out with a W, but I don’t think it will be worth the cost.
2. Assume that this startup is fucked, leave and keep a good relationship with the seed investor.
3. Assume that this startup is fucked, stall for a month until you actually own stock and then you have some leverage. BUT, depending on where you live, you may/might/likely will incur a tax liability on those shares. If you already assume that the startup is fucked, talk with an accountant to figure out what this strategy will do to your 2020 taxes owing.
4. Assume that the startup is fucked and name the company/your cofounder. It would be damned nice to avoid this toxic piece of shit in the future.
Outside of those options, I don’t see any other good choices.