What happened – A recent Delaware chancery court decision has called into question consolidated voting on charter amendments by some companies with multiple classes of common stock. In Garfield v. boxed, inc., the court concluded that a voting structure was invalid where it provided for holders of class A and class B common stock to vote as a single class to, among other things, authorize an increase in the number of authorized shares of class A.
Source: Whoops! Should stockholders have voted as separate classes on that charter amendment?