You are correct. The broker non-votes count toward a quorum. Then, under plurality voting, theoretically one FOR vote would elect Kenney (although that would certainly fuel more fire). Question is whether brokers will vote given fact company is no longer public and has had such a seedy past. Maybe if they hear from their clients “don’t submit proxies” they won’t submit proxies.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.