A Manhattan appeals court has ruled that a defunct law firm be awarded 2 percent of a tech company's stock based on a retainer signed during the dot-com boom, for Goldston & Schwab to represent Bandwidth for one year in exchange for four shares of stock. In its decision, the court noted that a single share of stock in Bandwidth was valued at $10,000 in 1999 -- but an attorney in the case noted that, in its appeals brief, the company itself said Alan Goldston's share could now be worth $7.8 million.
N.Y. Court Upholds Agreement That Gave Firm Tech Company Stock as Fee
New York Law Journal
June 20, 2008