Outraged that management would cut the dividend. Justin wants to elect himself and friends to the board of directors of Legacy Corporation. Legacy uses a cumulative voting system and there are 8 director positions up for election. If Justin owns 2.5 million of the 7 million shares how many directors could he elect?

Answer rating: 100% (QA)

Under cumulative voting each shareholder is entitled to cast a number of votes equal to the number o... View the full answer