A Manhattan appeals court has ruled that a defunct law firm be awarded 2 percent of a technology company’s stock, based on a retainer agreement signed at the height of the dot-com boom.
The deal, signed in September 1998 and retroactive to June 1998, was for the firm of Goldston & Schwab to represent Bandwidth Technology Corp. for one year in exchange for four shares of the closely held company’s stock, representing a 2 percent interest. The agreement was negotiated and signed by Bandwidth’s then-president, Jonathan Star.
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