2 ms·
Elizabeth Holmes also has a special class of shares which gives her 100 to 1 voting rights: http://www.forbes.com/sites/petercohan/2015/11/03/theranos-letter-s
by kqr2 10y ago
Elizabeth Holmes also has a special class of shares which gives her 100 to 1 voting rights:
http://www.forbes.com/sites/petercohan/2015/11/03/theranos-letter-shows-elizabeth-holmes-tried-to-take-control-from-shareholders/#1eabd82f479e http://www.forbes.com/sites/petercohan/2015/11/03/theranos-l...
- gwern 10y agoYes, everyone knows that. The point is that if your company is bankrupt and you go to the bank for a loan and they say 'sure, but only if the CEO quits and forfeits all her shares', there's not much the CEO can do about that. The shares become worthless in a bankruptcy anyway. So I wondered why this never happened. But now I know: they have far more cash on hand than I ever dreamed would be left at this point.