WASHINGTON, Feb. 12 -- Sen. Ruben Gallego issued the following press release:
Today, Senators Ruben Gallego (D-AZ) and Mike Rounds (R-SD) introduced the Enhancing Multi-Class Share Disclosures Act to increase corporate transparency for everyday investors in companies with multi-class share structures.
"When companies sell one kind of stock to everyday investors and another kind to insiders, it's hard to know who really holds the power in that company," Senator Gallego said. "In order to level the playing field between the everyday Americans and the powerful elites, we need more transparency. This bill requires companies to disclose how much voting power each share has, so that everyday investors know what they're getting into and can make...