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Types of Common Stock Common equity can be divided into more than one class of shares, known as classified stock. Consider this case: Mario Hathaway is a majority shareholder of Wizard Inc. He owns Class A shares, which have larger-than-proportionate voting rights in Wizard Inc. Based on this example, which of the following statements is true? a) Classified shares are not issued with the purpose of providing super-voting rights to a certain class of investors. b) Classified shares are issued to provide super-voting rights to a certain class of investors.
Submitted by David P. Feb. 14, 2023 03:34 p.m.
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