Securities & Public Companies Partner Addresses Multiple-Class Stocks in Law360
Securities & public companies partner Thomas Holden (San Francisco) was quoted in an Aug. 3 Law360 article examining the decision by the S&P 500 index manager to ban companies with multiple-class stock arrangements that reserve extra voting power for insiders, and indicating it is unlikely to stifle future public companies from establishing such structures. Mr. Holden notes that investor rejection would make dual-class stocks with no-vote shares disappear.