I've been there too. Named personally. I think most people don't realize how stressful and damaging this is. In most cases it's because there's some kind of well-intentioned but vaguely formulated law or act that, if real events are twisted by just the right amounts, would apply and imply personal liability.
From that point on the game that the litigators play is to try and shoehorn each and every of your past statements or actions to fit the law in question and your job is to find as much evidence to the contrary, which might go many years back. In records that you almost certainly no longer have. While running a company.
This practice of putting founders personally in a lawsuit is an absolute disgrace and it needs to stop. The damage done by vague laws and litigators who ruthlessly exploit them are a very large multiple higher than any of the benefits that could possibly be derived from them. The only winners in this game are the law firms.