Understanding Proxy Distribution, Solicitation Mechanics

Law360, New York (December 12, 2013, 2:58 PM EST) -- Under state law, only a stockholder who is listed as a registered holder of a company's stock is entitled to vote. Most stockholders in the United States, however, are beneficial owners and own stock in "street name" — which means that they hold shares through a bank, broker or another third party.

Most banks and brokers in turn hold stock through the Depository Trust Corporation, a securities depository. As a result of this structure, the DTC, rather than banks and brokers or the clients of banks...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.