O’Brien Law Firm sues cybersecurity startup over equity dispute
On May 20, 2021, the O’Brien Law Firm sued an Austin-based cybersecurity startup on behalf of two former employees who claim that the company failed to recognize their equity interests in the company for purposes of a buyout opportunity during a recent significant private equity investment round. O’Brien’s clients claim that had their interests been recognized, they would have been entitled to a combined $2.1 million equity buyout as part of the investment event. After filing suit, the parties moved the dispute to arbitration per the terms of the company’s arbitration dispute resolution plan. In the fall of 2022, the parties settled the dispute on confidential terms.