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Is Non-Voting Stock Eligible for Delaware Appraisal?

By Steve Hecht & Rich Bodnar on December 21, 2017

Yes, according to this posting.  Delaware law requires that a shareholder seeking appraisal must not have “voted in favor of the merger” (which is impossible for nonvoting common stock) nor “consented thereto in writing pursuant to Section 228.”  The mere fact that stock is issued as non-voting, as some recent IPOs have done, does not strip it of appraisal rights.

  • Posted in:
    Corporate & Commercial
  • Blog:
    Valuation Litigation & Shareholder Rights Blog
  • Organization:
    Rolnick Kramer Sadighi LLP
  • Article: View Original Source

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