, a finance professor at the University of Florida. That year, 174 total companies had an IPO.
In the last two years, though, 13 tech firms hit public markets with dual-class structures, including Snap, Roku, Dropbox, and Spotify. Essentially, the now common practice leaves retail investors with little say in how a company is run. "The principle of one-share, one-vote is a foundation of good corporate governance and equitable treatment of investors," Kenneth Bertsch, executive director of the Council of Institutional Investors,
"CII believes public companies should provide all shareholders with voting rights proportional to their holdings."
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