SAN FRANCISCO – A consultant has filed suit against his former employer for allegedly canceled stock options.
Boris Galitsky filed a complaint on May 2 in the U.S. District Court for the Northern District of California against Elastica Inc., Blue Coat Inc. and Does 1-10 citing breach of contract and unfair competition.
According to the complaint, the plaintiff signed an employment contract with Elastica in 2014 and was reclassified as a consultant in May 2015 until November 2015. The suit states part of his compensation included a stock option agreement. He alleges that when he sought to exercise his stock options after his contract concluded in November 2015, he was informed that his options were canceled. The plaintiff holds Elastica Inc. and Blue Coat Inc.; and Does 1-10 responsible because the defendants allegedly breached the agreement the plaintiff had with them. The suit states that Blue Coat acquired Elastica.
The plaintiff requests a trial by jury and seeks compensatory damages in the amount of $347,500 plus 10 percent interest since the date of breach, all legal fees and any other relief as the court deems just. He is represented by Nathaniel G. Kelly of the Law Offices of Nate Kelly in San Francisco.
U.S. District Court for the Northern District of California Case number 5:16-cv-02383-NC