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QUESTION 42 Nick is the owner of 70% of the preferred stock of Global Domination, Inc.The Board of Directors notifies all shareholders that the company
QUESTION 42
Nick is the owner of 70% of the preferred stock of Global Domination, Inc.The Board of Directors notifies all shareholders that the company intends to redeem all preferred stock, pursuant to Global Domination's Articles of Incorporation.Nick organizes a petition signed by all preferred stockholders objecting to the redemption.Because of the unanimous opposition, the Board cannot force the preferred shareholders to sell.
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