Letter of law ends suit on stock options

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted February 12, 2016 3:27 PM

No salary. Just stock options. That, according to Nicholas Karonis’ complaint for alleged violations of the Illinois Securities Law, was the compensation he agreed to accept when he started working for a high-tech startup — TAP.tv Inc. — in 2005.At the time, TAP.tv — which was trying to attract investors with a private placement offering — didn’t even have a stock option plan.Although Karonis received stock options a year after he started working for the company (renamed Visible Spectrum …

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