[theptip]

It’s also possible that both are correct, and the deal is actually illegal. It’s pretty common for deals to push close to the line to extract maximum value for one set of parties, and sometimes this is misjudged.

I guess we just need to wait and see if the common holders are happy or sue.

[ece]

If you join a startup, be ready to hire a lawyer.

[cj]

Or accept the fact that stock options are worthless, and don't accept a job offer if you're unhappy with the offer sans stock options.

[iancmceachern]

This is the way