I was recently terminated from a startup without cause, where I was one of several founders owning a decent percentage of stock. We also had an angel investor (incubator) in with us for a small percentage. All of our percentages are fully vested.
I feel totally cheated, but I'd like to hold on to my stock because I believe the startup will be very successful. But, the remaining members have been trying all sorts of games to get my percentage back. I am aware that dilution will happen as new investors come in, and I'm not really concerned about that as long as it's done 'fairly' i.e. everyone is diluted by the same amount.
Is it legal/likely/defensible in court for the other founders/Angel to collude and allocate a ton of shares and then offering everyone the option of buying them back?
Do new investors get turned off from investing in a startup such as this one, where one of the members (me) is out with a percentage, even though they have enough remaining for a majority? i..e 'the cap table is screwed up'
What other moves should I be aware of?