Medical testing company Theranos faces mounting questions about its technology. But founder Elizabeth Holmes may be insulated from investor pressure, thanks to a supervoting share structure that gives insiders 100 votes per share, compared to a single vote for every share held by everyone else, according to an analysis done by research firm PitchBook for The Information.
Theranos is typical of the most highly valued venture-backed private tech companies that have adopted supervoting shares, a separate class of stock typically used to give founders and other insiders enough voting power to control the firm regardless of how many shares they own.
