Were you due millions and got nothing, or did you just lose some of what you felt you were due? What would you suggest others do in order to avoid that situation of yours?
It turns out, however, that the moment I was out he transferred all of the company's IP to a different corporate entity that he owned 100℅ of (same exact company name, just a different structure). He eventually sold that entity. The only thing he couldn't erase was my name being on the patents, but apparently the acquiring company never bothered asking who I was. But in the end it didn't matter, I simply didn't have enough resources to see it all the way through.
Thanks for sharing that story with me. It's so stressful thinking about the stuff that can happen, esp when doing business with peeps you know.
But it also sounds batshit crazy... shareholders should have more than just 'trust' that a founder isn't going to screw them over so easily.
I know someone who went up against a Dow 30 tech company like this, won $8 million, and walked away with $2 million after tax. Let me know if you want more details, I'll email you.
I'll reserve my opinion.
So yeah I wasn't going to name names, but since you posted this old link, in my opinion, no one should ever do business with Allan Camaisa. He is the CEO of a different tech startup today in the mobile space, and I can only assume he is screwing people both inside and outside the company in the same way and possibly new and improved ways.
If you would like to see the ire this guy inspires in business associates, look no further than http://eyevelocity.com . This was a dot com era implosion that he was the CEO of. Allan blew through $40 million of "smart" money - Intel Capital, Chase H&Q, etc. and the company went bankrupt. A spurned employee bought the old domain and 15 years after they blew up is apparently still bitter based on the home page lol (HTS was the parent company of Eyevelocity). His very next venture after that disaster was the one we started together.