Hector Valez owns 6,001 shares of the Piston Corp. There are 12 seats on the company board
Question:
Hector Valez owns 6,001 shares of the Piston Corp. There are 12 seats on the company board of directors, and the company has a total of 78,000 shares of stock outstanding. The Piston Corp. utilizes cumulative voting. Can Mr. Valez elect himself to the board when the vote to elect 12 directors is held next week?
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Yes Mr Valez can elect himself to the board Num...View the full answer
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Related Book For 
Foundations Of Financial Management
ISBN: 9781264097623
18th Edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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