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Notices
BS
Bernard S. Sharfman (not verified)
4th May 2019 | 5:33pm

I agree with the authors that dual class shares have value for investors. However, I have a somewhat different take on sunset provisions. See "The Undesirability of Mandatory Time-Based Sunsets in Dual Class Share Structures: A Reply to Bebchuk and Kastiel," https://southerncalifornialawreview.com/wp-content/uploads/2019/04/Suns… . A summary of the article can be found on the Harvard Forum, https://corpgov.law.harvard.edu/2019/04/24/the-undesirability-of-mandat… . The argument found in the article is unique in that it is based on the positive skewness of stock market returns as presented by Hendrick Bessembinder. I believe the argument is a game changer.