Investor group seeks to bar Snap from indexes over voting rights

Reuters ------ A group representing large institutional investors has approached index providers S&P Dow Jones Indices and MSCI Inc, looking to bar Snap Inc (SNAP.N) and any other company that sells investors non-voting shares from their stock benchmarks. Both index providers have said they are reviewing Snap's inclusion. Were Snap to be added to indexes such as the S&P 500 Index or the MSCI USA Index, managers of stock index portfolios would have to buy its shares, and other investors whose performance is tracked against such indexes would likely follow suit. Some money managers worry about buying Snap’s Class A shares because they have no voting rights, meaning those shareholders will have no voice on matters like company strategy or executive pay. To get more in depth information on investor group seeks to bar Snap from indexes over voting rights click on the picture below to read the article.