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Re: was SaltLife post# 28996

Wednesday, 06/17/2009 1:47:37 PM

Wednesday, June 17, 2009 1:47:37 PM

Post# of 58465
From the SEC website

"A company’s board of directors may declare a reverse stock split without shareholder approval. Although the SEC has authority over a broad range of corporate activity, state corporate law and a company’s articles of incorporation and by-laws govern reverse stock splits."

From an earlier post by Ryan

" I have read through Delaware corporate law provisions. The way I understand the Delaware provisions is that they can not do a R/S without a majority vote. "

-Pruchnik


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