Person: To me, it is like asking someone I know, "Does the number of outstanding shares limit the number of investors?" I would feel like an idiot.
I am sure I could get someone to argue it does, but that doesn't mean I will personally check it out for them.
However, I would be interested if someone could knock my experience. While the Delaware code does not limit votable shares to authorized, perhaps case law has done so.
So lots of folks saying their is a limitation, but not one link. I suspect some folks have worked very hard to try and prove the theory. Crickets.
So, if you are setting expectations about the outcome of an important vote, based on some esoteric theory, isn't it worth a link to support it?
Does no one actually care how the vote will be counted?
Otherwise, I think we should call this idea a hoax. Or hope, if that is little nicer.
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