Snap Will Also Be Blocked From the S&P 500 Over Corporate Governance Concerns
Less than a week after index provider FTSE Russell decided to impose a 5% minimum public voting rights threshold for potential new index constituents, effectively blocking Snap (NYSE: SNAP) and its publicly traded non-voting shares from inclusion in any of its indexes, S&P Dow Jones Indices (S&P DJI) is making a similar move. S&P DJI has been evaluating the controversy regarding non-voting shares since April, conducting two consultations soliciting input from the investment community.
The index provider has now made a decision, and it will also effectively block Snap from being included in many prominent indexes, most importantly the S&P 500.
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Source: Fool.com
