1. Snap Tried to Turn Big Investors into Zombies — it Didn’t Work

    Snap Tried to Turn Big Investors into Zombies — it Didn’t Work

    Snap Inc., the parent of Snapchat, was dealt another blow today. FTSE Russell, which owns numerous indices for stock markets around the world, including the US Russell 3000, 2000, and 1000 indices, said today that it would exclude Snap from its indices because of Snap’s share structure that denies public investors the right to vote.

    Though Reuters reported the story after the market had already closed, the shares of Snap fell 3.5% today to $13.40, a new all-time low...

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    1. If Snap gets away with this, issuing non-voting shares will become pandemic, and shareholders will become helpless dupes.
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