Lyft's Unequal Voting Structure Irks Some Large Investors
Brink Dickerson was quoted in a Law360 article titled, “Lyft's Unequal Voting Structure Irks Some Large Investors.” The San Francisco-based ride share service is poised to price a IPO later this month using a “vastly unequal voting structure” that has drawn objections from a large investor group. Regarding how Lyft’s decision affects investors, Dickerson said, “Ultimately, investors are mature individuals. They are smart enough to make the decision as to whether or not they want to invest in Lyft or some other company that has dual-class voting. We don’t need regulatory action, either at the stock exchanges or SEC, that would trump investor discretion.”