By  on June 24, 2019

Chico’s FAS Inc. has opted out of a provision of the Florida Business Corporation Act that denies voting rights to an investor if it acquires 20 percent or more of the company’s shares, unless the voting rights are approved by a majority of unaffiliated shareholders at a special meeting.

Chico’s chairman David F. Walker issued a letter to shareholders Monday that the action was geared “to ensure that all Chico’s FAS shareholders retain voting rights for each share they own.”

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