Chairman and CEO John Casella's grip on the Board and the Company has been aided by the Company's dual class stock
structure that creates a gap between the economic investment of shareholders and their voting power.
They also called for changes to management and the company's dual class stock
structure that helps keep control of major issues in the hands of Murdoch, News.
07 per share, charge for costs incurred to eliminate the Company's dual class stock
structure and hostile tender offer for its class B stock; a $1.
The proposal, which calls on the board to develop a recapitalization plan to replace the current dual class stock
structure with a one-share, one-vote system, received 82 percent support by shareholders of the company's Class A, publicly traded shares (or 67 percent of all publicly traded shares outstanding) based on results disclosed by the company in its 8-k dated May 11, 2015 and filed with the Securities & Exchange Commission (SEC).
As a result of eliminating its dual class stock
structure in January, Methode added four new independent members to its board of directors at the end of fiscal 2004.
PHOENIX, April 24, 2015 /PRNewswire-USNewswire/ -- The country's two leading proxy voting advisors, ISS and Glass Lewis, recommend that shareholders of Swift Transportation[NYSE: SWFT] vote for a shareholder proposal sponsored by the International Brotherhood of Teamsters that calls on the company to pursue a plan to recapitalize the company and replace the current dual class stock
structure with one that ensures equal voting rights for all shareholders.
7 million and, excluding expenses related to the elimination of its dual class stock
structure and a facility closing, net income of $4.
PHOENIX, May 14, 2014 /PRNewswire-USNewswire/ -- A Teamster shareholder proposal to address Swift Transportation's dual class stock
structure received 79.
in an attempt to end Tyson's dual class stock
Leading Proxy Advisor ISS Recommends Shareholders Support Teamster Proposal to Address Dual Class Stock
Structure; Withhold Votes from Incumbent Audit Committee Directors
Tyson Foods of Springdale, Arkansas, landed on the corporate laggards list because of its poor stock performance and use of a dual class stock
Even more importantly, to me, this attitude of apparent disdain for the rights of the owners of the company (which may be summed up as - "Being a CEO of a public company would be a great job, were it not for those pesky shareholders") goes a long way toward explaining why the full story of what really happened with Skype seems to us to continue to remain shrouded in the type of fog and mystery often engineered by highly paid public relations consultants and lawyers, the kind of folks who invent undemocratic entrenchment devices like dual class stock
so that companies can take stockholder money and then tell them to "sit down and shut up.