Under Armour (UA) and Zillow (Z) have announced 2 for 1 stock splits that do not pass the smell test. These splits will serve up a second class of shares, representing fully one half the value of the company, but with absolutely no voting rights. This will allow the founders to maintain control of the companies, treating them as their personal fiefdoms, while they have all the privileges and access to capital of a public company. Google pulled a similar fast one over on its shareholders last year. I certainly hope this is not a trend.
