It's no secret that Zenefits has had its fair share of news coverage in its short, but storied, existence in the HR and insurance industry. Once seen as disruptive and innovative, Zenefits now finds itself as a cautionary tale of compliance, culture, and controversy.

That's in large part because of Parker Conrad, the now-ousted CEO who cheated the system by allowing his employees to bypass licensure requirements, was at the helm as investors lost revenue confidence, promoted a "frat house" ethos in the office, and sold $10 million in stock prior to his mandated resignation.

It wasn't that long ago (seriously, only 14 months) that we at BenefitsPRO were covering San Francisco-based Zenefits' introduction into the marketplace, wondering what would be next for the rapidly growing startup. Today, we don't wonder, we wait. Mostly for the other shoe to drop — because it has. Several times. With a thud.