“What Paul Ryan said is an invitation to a shareholder lawsuit,” says Nell Minow, vice-chair of ValueEdge Advisors, and a longtime shareholder rights advocate. Former House Speaker Ryan, a member of the NewsCorp board, repeatedly voiced his concern internally about the direction Fox News had taken by pushing 2020 election lies, but told an interviewer…
Tag: dual class shares
Comcast: How Many More Times Do We Have to Explain One Share One Vote?
Our concerns about Comcast go back a long way. Our predecessor company, The Corporate Library (now GMI Analyst, a part of MSCI), we gave Comcast and its board a rare F rating for catastrophically poor corporate governance. If there was a lower grade than F, we would have given it to them. And if we were still grading…
Dual share structures could erode accountability at the top | Financial Times
George Dallas writes about the possibility of loosening restrictions on dual class stock in the UK. We only disagree with one point — he says it is “ironic” that this is being considered just after the adoption of the robust new UK stewardship code that is the new standard other jurisdictions should aspire to. It…
CII Letter to Delaware State Bar Association: Limiting Multi-Class Voting Structures
We are writing on behalf of the Council of Institutional Investors (CII) to request that the Delaware State Bar Association propose to the Delaware General Assembly that Delaware General Corporation Law (DGCL) be amended to limit the authority of Delaware corporations listed on national securities exchanges to adopt multi-class common stock structures with differential voting…
Camping World performance under Marcus Lemonis shows why governance matters
VEA Vice Chair Nell Minow was quoted in a story about Camping World, a public company that has dual class stock and a staggered board and is performing poorly: “Staggered boards were adopted in the 1980s and 1990s as an antitakeover measure,” says Nell Minow, who advises companies on governance as vice chair of Valueedge…
Commentary: Dual-class structures rob voices of shareholders – Pensions & Investments
CII’s Amy Borrus writes about concerns that dual class IPOs without a sunset provision will limit shareholder oversight and leave companies less nimble and adaptable to change. [W]hen it comes to how they govern their companies, too many founders embrace frameworks that are bulwarks against change that are highly hazardous for investors. How? By going…
Surprising Earnings and Summer Movies – Motley Fool Money
VEA Vice Chair Nell Minow talks about dual class stock — and summer movies — on the latest episode of Motley Fool Money. Source: Surprising Earnings and Summer Movies – Motley Fool Money
ValueEdge Advisors 