8th year of H1b + I 140 revoked

[mayurag]

All,

Need your views. I got my H1B visa on Oct 1,2004 with my employer 1 who also filed my I-140 in 2008 (approved in Nov 2008). I left this employer in June 2010 and joined employer 2. At this time H1-B was extended beyond 6 yrs till Jun 2013. After this, my I-140 was revoked by employer 1 (as informed by lawyers).

I changed to employer 3 in Dec 2010. Interestingly my H1b was approved with the same expiration (Jun 2013).

Now I am laid off. I have completed almoast 8 yrs on H1-b. If a new employer (employer 4) files for my H1B transfer, what will happen?

1.> It will be rejected since the basis for H1B extension is lost (basis was the approved I-140 with employer 1)

2.> It will be extended for 11 months (till Jun 2013)

3.> I will get a 3 yr extension :-)

I also have the option to go on H4 while I hunt for a job, and then come back to H1 once I get a job. I have been told that in my case, their is risk that H4 to H1 visa change will be rejected as I have exceeded 6 yrs and have no active green card process. Do you recommend that I switch to H4 while I hunt for a job?

Thank you for your help!!

Mayura