Search the Site

Special Report: Snap Judgment on Non-Voting Shares in an IPO

Spotify Tests SEC Patience with Dual-Class Shares for Stock Offering

Non-voting shares are nothing new in the world of capital markets, but never before have they been the security on sale in an IPO. They hadn’t been, that is, until Snap. Inc. sold $3 billion of non-voting shares in a splashy IPO that gave the capital markets industry a welcome reminder of the glory days of old. But much remains unknown about shareholder experience with non-voting shares, leaving open the question of whether Snap’s IPO will, in retrospect, look more like a harbinger of further initial offerings of non-voting shares, or a “fool me once” event that wise investors will steer clear of in the future.

Related Articles

Google Parent Sued by Shareholders for Handling of #MeToo Allegations

In the era of the #MeToo movement, high-profile corporate executives getting sacked for bad behavior has become almost commonplace. New developments w...

IPO Traffic Jam Part of Shutdown’s Effects on SEC

As the longest federal government shutdown on record approaches the one month mark, visitors to national parks and monuments are discovering mountains...

Tobacco, Alcohol Companies Going to Pot

With the counterculture revolution in full swing, public support for legalizing marijuana in the United States hovered around a measly 10 percent of A...