|
ECIL | I'm guessing that prior to the previous merger, the "surviving" co-op had the authority to do this and when the merger happened, it now affects the new co-op members that got swallowed up. This is why it's so important for co-op members to be actively engaged and read merger documents carefully. The larger "survivor" in a merger may have all kinds of different things in their by-laws that you're not used to in your current situation. These mergers get pushed through easily if members aren't engaged and just vote for it because "bigger always has to be better". Voting shares can be changed, dividend percentages can change, and more. When you vote for or against a merger, PLEASE read the merging documents carefully and let your board members know/vote accordingly.
I would say in your case, if you had voting shares before hand, they got rolled into a new class of share if you don't have a vote now unless you do x amount of business. | |
|
coop got to big for me to vote
