03 Mar '12, 6pm

Koch Bros. Sue For Control Of Cato Institute | Care2 Causes

Koch Bros. Sue For Control Of Cato Institute | Care2 Causes

How do the mega-rich begin to implode? Usually through a shareholder lawsuit . Charles and David Koch , billionaire activists launched a legal battle over control of the Cato Institute, one of the nation’s best-know libertarian think tanks. The Cato Institute was founded in 1974 as the Charles Koch Foundation and until last year had four shareholders: Charles Koch; David Koch; Edward H. Crane III, Cato’s president; and William A. Niskanen, who died in October. The Koch brothers believe the shareholder agreement is clear that there should only be three shareholders now, while Crane thinks Niskanen’s 25-percent control should go to his widow, Kathryn Washburn. Why does any of this matter? Well, an equal 25% split among Cato’s four shareholders meant that the Koch brothers could not act unanimously in the decision-making process–they had to at least get one other shareholder ...

Full article: http://www.care2.com/causes/koch-bros-sue-for-control-of-...

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