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Google Inc. (GOOG)’s proposed stock restructuring plan, which would add a class of nonvoting shares, was criticized by shareholder-advisory firm Egan-Jones Ratings Co.
“As a trusted adviser to institutional investors, we strongly oppose governance structures, such as currently exists at Google and as proposed, in which the holders of one class of common stock have voting rights with fewer votes per share,” the firm said today in a statement.
Google announced the plan yesterday, saying it would help preserve the voting power of founders Larry Page and Sergey Brin.
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