With the Walt Disney Co. facing a proxy fight on two fronts against activist hedge funds trying to seed the company’s board of directors with their own candidates, Business Insider reported that an unknown investor is offering to buy votes at the company’s April shareholder meeting at a rate of $100,000 per 500,000 votes under a controversial “Shareholder Vote Exchange.”
Five hundred thousand votes works out to roughly $55 million in shareholder equity, and, yes it is perfectly legal.
