Case Problem:
Acme Corporation’s articles of incorporation require cumulative voting for the election of its directors. The board of directors of Acme Corporation consists of nine directors, each elected annually.
a. Peter owns 24 percent of the outstanding shares of Acme Corporation. How many directors can he elect with his votes?
b. If Acme Corporation were to classify its board into three classes, each consisting of three directors elected every three years, how many directors would Peter be able to elect?
Your answer must be, typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.