Well the Republican debate was putting me to sleep so I went through my snail mail and came across a rather cryptic Notice to Stockholders I can't make much sense of. Does anyone know about Section 228(e) of the Delaware General Corporation Law and how it might relate to my shares in a company I used to work for?
Airbag manufacturer Takata's surreal new concept in airbags.
6 comments:
Wow, so crash victims' heads can become butt plugz?
In other news, Thud the cave cat is making it hard to work. He's currently velcroed to my shirt.
Good point! I forgot to add the butt-plugs tag, but it's included now.
Then there's Bulgarian airbags
This notice contained the following, which seems to try to explain matters. It made my eyes glaze over though.
"Under Section 228(e) of the DGCL, where stockholder action is taken
without a meeting by less than unanimous written consent, prompt notice of the
taking of such corporate action must be given to those stockholders who have not
consented in writing and who, if the action had been taken at a meeting, would
have been entitled to notice of the meeting if the record date for such meeting
had been the date that written consents signed by a sufficient number of holders
to take the action were delivered to the Corporation as provided in subsection
(c) of Section 228."
Yes kidz, that's one sentence.
@Ogg,
That makes no more sense than the letter I received.
Under DGCL 228, any Delaware corporation that takes an action requiring stockholder approval, and they get that approval by having the required majority of votes sign a written consent and don't bother to hold a meeting, they have to give "prompt" notice of the action to anyone who didn't sign the consent
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