Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Goldstein, Demchak, Baller, Borgen & Dardarian is seeking class action status in an employment suit that takes aim at what its defenders call standard Silicon Valley practice. In a case filed Thursday in San Francisco Superior Court, Goldstein Demchak partner Laura Ho argues that eBay violated contracts with about 100 employees when it sold a subsidiary in 2002 and canceled stock options held by the subsidiary’s employees. In Archbold v. E-Bay, 03-439143, Ho said that eBay lured workers to a subsidiary, Butterfields Auctioneers Corp., with the promise of eBay stock options. But when eBay sold the San Francisco-based auction house, Ho said, it cancelled many unvested stock options and required the vested options to be exercised at an earlier date than required in employees’contracts. Ho is alleging breach of contract and unfair business practice claims and that eBay committed fraud by promising stock options to new workers even after it had decided to sell Butterfields. EBay spokesman Chris Donlay said Thursday that the company had not yet seen the suit, but he read a prepared statement that said that eBay’s options policy is no different from other companies’. “We believe our stock option plan is consistent with � plans throughout the industry in limiting the vesting of options to only people who are employees or employees of companies where we own a majority interest,” he said. Archbold is the first suit over the withdrawal of stock options to seek class action status in California, said Ho, adding that she expects to see others. Ho said the class action claim follows a suit filed last year by a former Butterfields worker in San Francisco Superior Court. Ho said that both cases originated with Craig Ackermann of Ackermann & Tilajef in L.A., who is co-counsel with her firm.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.