So as some of you may or may not know at this point, there has been some turmoil at my place of employment over the past month. Due to confidentiality reasons, I wasn't able to give anybody the whole picture until now and I figure the blog is the best way to tell the story all at once and give the same version to everybody.
About a month ago, there was an all-employee conference call that was put together with only a few hours notice. At the call, we were told that there was a potential buyer for LECG. We all thought, "ok" and continued working. Then, another all-employee conference call was put together, also on short notice. This call explained more about the potential buyer, but also added the caveat "we may not be able to make payroll on the 28th." Needless to say, this was a bit worrysome.
The director of my specific group got everyone together and told us that we would be staying together as a group, but that we would be leaving LECG due to the situation. It took a couple of weeks to get everything figured out (LECG was able to make payroll on the 28th afer all), but now I'm no longer with LECG. I'm with BRG (Berkeley Research Group), it's got several familiar faces from LECG from before. All the people I work with regularly are there as well.
The picture explains my sentiments. LECG was sinking fast, and our group managed to get into one of the last lifeboats. I'm happy my job is still secure and doing well, but I feel bad for those I know who weren't able to "escape the Titanic" and either find themselves unemployed or shortly will be.
P.S. If anyone is interested in the specifics, the info here is now public knowledge. I can also provide some more context if you want that. Let's just say that the phrase "the Company does not believe there will be any value remaining for the common stockholders" does not do good things to the stock price.