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The S&P 500 is Making a New Rule that Bars Snap from Joining

Business Insider

(Reuters) - The S&P 500 will start excluding companies that issue multiple classes of shares, managers of the index said on Monday, a move that effectively bars Snap Inc after its decision to offer stock with no voting rights.

The decision takes effect starting Tuesday, according to a statement by the manager of the widely used benchmark, S&P Dow Jones Indices LLC...

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