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drig's Journal: Marriage as a corporate liability?

Journal by drig

So, my company competes with plumtree software. Just for shits and giggles, I've been following their crooked path towards IPO. 8 S1 filings :)

Sometime between the second to last and last S1 addendums, a section was added covering the stock owned by the CEO's ex-wife. Apparently, they just got divorced. In the divorce settlement, she got about 6 2/3% of the company's stock.

So, now there's this woman who most likely hates the CEO with a significant chunk of the company's stock. Bad situation. Really, really bad situation. I mean...this is pretty fucked up right here. Couldn't their investors (Sequoia Partners primarly) have gone to court to protest?

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Marriage as a corporate liability?

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