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Wednesday, December 23, 2020 5:54:21 PM
Let's quote from Harvard Law:
Snap Inc.’s IPO [on March 2, 2017], featuring public shares with no voting rights, appears to be the first no-vote listing at IPO on a U.S. exchange since the New York Stock Exchange (NYSE) in 1940 generally (my emphasis) barred multi-class common stock structures with differential voting rights.
SNAP and the Rise of No-Vote Common Shares
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