LogFAQs > #941073834

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Topic	Stock Topic 7
red sox 777 06/22/20 1:16:06 PM #20:	There's a Motley Fool article that says that the LK chairman's own investment holding company called the meeting to remove himself as chairman as well as other directors, with the idea of electing new directors that he will control from behind the scenes. One of the independent directors resigned and the meeting could result in the other one being fired. It looks like the chairman has a bunch of class B shares with 10 votes per share while the regular stock only gets 1 vote per share, which is the same mechanism Mark Zuckerberg and the Google founders use to maintain control of their companies permanently. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest! <cite>red sox 777 posted [p:941073834] in Stock Topi... [t:78792868]...</cite> <quote>There's a Motley Fool article that says that the LK chairman's own investment holding company called the meeting to remove himself as chairman as well as other directors, with the idea of electing new directors that he will control from behind the scenes. One of the independent directors resigned and the meeting could result in the other one being fired. It looks like the chairman has a bunch of class B shares with 10 votes per share while the regular stock only gets 1 vote per share, which is the same mechanism Mark Zuckerberg and the Google founders use to maintain control of their companies permanently. --- September 1, 2003; November 4, 2007; September 2, 2013 Congratulations to DP Oblivion in the Guru Contest!</quote> ... Copied to Clipboard!
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