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Cinedigm board receives shareholder consent for reverse stock split
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Cinedigm Corp. received stockholder approval to effect a reverse stock split and reduce the company's authorized and issued and outstanding class A common stock.
The board has the authority to effect a reverse stock split of not less than 1-for-2 and not more than 1-for-10, or to not proceed with a reverse stock split if it believes that it is no longer required, according to a Jan. 16 SEC filing.