My partner was informed last week that her publicly traded company is shutting down, and from my current understanding there was no buy out/merger or bankruptcy filing. Shareholders didn’t vote on it and it is not a single majority owned company (over half company owned by individuals or public companies). I’d like to know the scenarios in which this could happen.
In: Economics
Typically, something like that would require at least the board of directors to approve and a plan for buying out shareholders. They can’t just make a company disappear and shareholders are left with nothing. Are you sure there wasn’t a bankruptcy or acquisition? What is the company? Having knowledge would allow ability to look into what’s actually going on because how you describe it makes very little sense.
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