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25. A proxy fight occurs whenever A. Any board member is up for re-election B. A firm files for bankruptcy C. A shareholder sells shares

25. A proxy fight occurs whenever

A. Any board member is up for re-election

B. A firm files for bankruptcy

C. A shareholder sells shares in the open market

D. A group solicits votes to replace the current board of directors

E. A firm is declared insolvent

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