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Life Storage shareholders OK proposed exclusive forum provision

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Life Storage shareholders OK proposed exclusive forum provision

Life Storage Inc. shareholders approved a proposal to add an exclusive forum selection provision to the company's bylaws.

A total of 25,912,623 votes were cast in favor of the proposal during the self-storage real estate investment trust's May 30 annual shareholder meeting; 14,286,216 were against it; 94,660 were abstentions; and 2,875,131 were broker non-votes.

The amendment states that the exclusive forum for certain legal actions involving the REIT will be in the Circuit Court of Baltimore City, or if such court does not have jurisdiction, the U.S. District Court for the District of Maryland sitting in Baltimore.