DLG Luce – Austin – Famed Game Designer’s Trial Begins in Travis County
As reported in the Austin American Stateman, game designer Richard Garriott’s lawsuit against former employer NCsoft Corp. has begin in Austin Travis County. In his lawsuit, Garriott has claimed that NCsoft mischaracterized his departure as voluntary, causing him to prematurely exercise his stock options and lose 47 million dollars.
Mr. Garriott’s attorney was quoted as stating to the jury in District Court Judge Sam Sparks’ Court as saying ‘Richard Garriott needs your help to be made whole for that loss.
NCsoft’s attorney stated that Garriott voluntarily resigned, and it was his decision to sell the stock options at a relatively low price.
Under Garriott’s contract, a voluntary departure meant he had to exercise his tens of millions of stock options within 90 days. He would have had 2½ years to exercise the options after being fired.
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