About: Trading of shareholder votes

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Trading shareholder votes is the practice of exchanging one's shareholder votes in corporate elections for cash or other forms of payment. Trades may involve multiple shareholders with varying interests in corporate matters, but may be of particular value to activist investors or a company's board of directors. Several high-profile cases of vote trading have occurred throughout recent history in the United States, most notably Hewlett v. Hewlett-Packard Company in April 2002. In writing the ruling for that case, Chancellor William B. Chandler III of the Delaware Court of Chancery noted, "Shareholders are free to do whatever they want with their votes, including selling them to the highest bidder." Shareholder votes may be considered fundamentally different from political votes in the sense

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  • Trading shareholder votes is the practice of exchanging one's shareholder votes in corporate elections for cash or other forms of payment. Trades may involve multiple shareholders with varying interests in corporate matters, but may be of particular value to activist investors or a company's board of directors. Several high-profile cases of vote trading have occurred throughout recent history in the United States, most notably Hewlett v. Hewlett-Packard Company in April 2002. In writing the ruling for that case, Chancellor William B. Chandler III of the Delaware Court of Chancery noted, "Shareholders are free to do whatever they want with their votes, including selling them to the highest bidder." Shareholder votes may be considered fundamentally different from political votes in the sense that political votes are often guaranteed as inalienable rights, while no such condition applies to shareholder votes. Similar to trading votes, proxy voting is when a voter appoints another person to vote on their behalf, the difference being whether an explicit economic value transaction accompanies the appointment or not. (en)
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  • Trading shareholder votes is the practice of exchanging one's shareholder votes in corporate elections for cash or other forms of payment. Trades may involve multiple shareholders with varying interests in corporate matters, but may be of particular value to activist investors or a company's board of directors. Several high-profile cases of vote trading have occurred throughout recent history in the United States, most notably Hewlett v. Hewlett-Packard Company in April 2002. In writing the ruling for that case, Chancellor William B. Chandler III of the Delaware Court of Chancery noted, "Shareholders are free to do whatever they want with their votes, including selling them to the highest bidder." Shareholder votes may be considered fundamentally different from political votes in the sense (en)
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  • Trading of shareholder votes (en)
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