LA Times: Snap’s nonvoting stock — everything sold in the IPO — is junk, investor says

Los Angeles Times: Snap’s nonvoting stock — everything sold in the IPO — is junk, investor says. “Los Angeles technology company Snap Inc.’s historic decision to go public last week with an issuance of only nonvoting shares sets a damaging precedent for the stock market, leading investors warned Thursday. The comments came as a government advisory group comprised of investor advocates began weighing whether to urge regulators to ban public companies from significantly curbing the power of certain shareholders.”

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