[_eigenfoo]

Yes. They're pretty explicit about this:

> So long as our Founders [...] meet a minimum ownership threshold on the applicable record date for a vote of the stockholders[...], these Founders will effectively control all matters submitted to a vote of the stockholders for the foreseeable future. This could delay, defer, or prevent a change of control, merger, consolidation, or sale of all or substantially all of our assets that our other stockholders support. Conversely, this concentrated control could allow our Founders to consummate a transaction that our other stockholders do not support.

[thesausageking]

Thanks! I know many companies get away with it, but I still find it odd for shareholders to not have any control. They'll own it but have no say in how the company is run.

[wmf]

Most investors are passive anyway. If you don't like how the company is run you can push down the price by selling.