Investors Blast Snap's Plan To Offer Non-Voting Shares
Law360, New York (February 7, 2017, 3:48 PM EST) -- A group of institutional investors have asked Snap Inc. to reconsider its plan to sell only non-voting shares as part of its $3 billion initial public offering, saying the two-class system could harm the stock’s value and undermine public confidence in the market.
The Council of Institutional Investors, a group of fund managers who oversee some $3 trillion in assets, asked Snap co-founders Evan Spiegel and Robert Murphy and the company’s chairman Michael Lynton to meet and discuss another way forward in their Friday letter. The stock offering, announced Thursday, would leave the company’s top officers and early investors in full...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!