QAD Stockholders Approve Recapitalization

By Benzinga Staff
December 15, 2010 9:46 AM

Symbols: QADI

Posted in: News

QAD Inc. (NASDAQ: QADI) today announced that its stockholders approved the previously announced recapitalization plan at a special stockholders meeting held on December 14, 2010.

The recapitalization plan, which is designed to increase financial flexibility for QAD and its stockholders, will establish two classes of common stock: Class A common stock with 1/20th of one vote per share and Class B common stock with one vote per share.

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QAD Stockholders Approve Recapitalization

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