The once-trendy, San Francisco-born coffeeshop chain Philz Coffee has struck a deal to be sold off to a private equity firm for $145 million, but any employees who bought stock are getting the shaft, as they won’t see a penny of that money.
  • dejected_warp_core@lemmy.world
    12·
    1 month ago

    One time, I had my shares reduced in value when my employer sold. I didn’t know they could just write them off at $0.

    I suppose it could be argued that, as an “investment” stock’s value (even pre-IPO) is fungible and not guaranteed. Still, this smells like theft.