I agree with you but we wanted to make a clear statement that investors are not all day traders or people who come from the investment community. We must all understand that "shareholders of record" can be confusing for ignorant investors like us.
We think that the explanation on ACT's 10-K form "As of March 11, 2011, there were approximately 235 shareholders of record of our common stock" is sloppy and vague and we have discussed the matter with their Investor Relations person.
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