Former BuzzFeed employees hoped for sizable earnings when the company went public, but many are still unable to trade their shares.
that “the investing public may not be getting like protections between traditional IPOs and SPACs” and that “misaligned incentives and conflicts might enrich certain parties at the expense of others.”
On the night of December 7th, after two days of trading, BuzzFeed sent an e-mail to former employees reiterating the need to print and sign the e-mail in order to make the stock conversion. “For context, only yesterday did we learn that holders of Class B shares would have to take additional steps to convert their shares to Class A,” it read. “We wish this information had been provided in Continental’s initial Letters of Transmittal.
An e-mail circulating among former employees this past week raised the question of whether they could have a legal case. “This is rotten and definitely slimey, but I have not figured out if it’s illegal,” a person wrote. When asked whether anything illegal had occurred, Matt Mittenthal, a spokesman for BuzzFeed, said “of course not.” Mittenthall also noted that Peretti is locked out of trading for periods of six months to three years.
Numerous former employees took to Twitter to express their frustration.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘Craig is Satoshi’: a former online gambling mogul’s contentious campaign to change Bitcoin’s futureCalvin Ayre says what’s most important to him is that Bitcoin SV is a technology that can work and scale in a way that Bitcoin and many other cryptocurrencies cannot.
Read more »
Former Seahawks player found dead in Kansas federal prisonA former Seahawks player was found dead in a Kansas federal prison where he was being held on charges of illegal firearms possession, a prison official said.
Read more »
Former State Legislator Shirley Smith Joins the 2022 Cuyahoga County Executive RaceShirley Smith, the former Ohio state senator who most recently ran for the congressional seat vacated by Marcia Fudge, has joined the race for Cuyahoga...
Read more »
Former House Staffer Opens Up About How Conservative Media Ruined His LifeEx IT staffer Imran Awan says conservative outlets targeted him for being Muslim: “If I was a white guy, nothing would have happened.”
Read more »
Former Solon Schools band director convicted of multiple sexual abuse chargesEdward Kline spent over a decade as a band director at Solon High School.
Read more »
Jay Barker, former Alabama quarterback and husband of Sara Evans, arrested for domestic violenceBarker has been married to country singer Sara Evans since 2008.
Read more »