A proxy fight generally is a battle between management and a group of shareholders who want to install a new management team that will operate the firm differently,or possibly break it up or sell it.Under most companies' bylaws,the dissident group must obtain 80% or more of the votes in order to prevail.

Question

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A dissident group does not need to obtain 80% or more of the votes to prevail in a proxy fight. The required percentage varies depending on the specific company's bylaws and state laws.

A Proxy Fight Generally Is a Battle Between Management and a Group