I left a company about 3 years ago, and exercised some options immediately after departure.
Since then they've apparently taken funding (which isn't public anywhere), but I haven't received any correspondence from them (about the funding or anything else). Do they have any obligations to keep me updated on happenings within the company, or are they allowed to keep me completely in the dark until they're a public company or experience a change in ownership?
There was a case Biederman v Domo, http://online.wsj.com/public/resources/documents/complaint.p... Where, Biederman, a former employee requested financial data to value his shares, as consistent with Inspection of Books and Records Pursuant to 8 Del. C. § 220 - which applies to many DE incorporated, funded startups, but has restrictions.
It's my understanding that Biederman prevailed. He was able to inspect the books and was not muzzled, as per Domo's initial requirements. However, I can't find the decision.