Classified shares have super-voting rights

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Reference no: EM131087959

The ceo of Echostar commmunications, Charlie Ergen, owned around 5% of the company's stock, but his multiple votes per share gave him around 90% of the vote. Based on this example, which of the following statements is true?

A. classified shares have super-voting rights, which give more control to a certain class of investors

B. Classified shares are not issued with the purpose of providing super-voting rights to a certain class of investors

Reference no: EM131087959

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