NEW YORK—A U.S. House of Representatives panel plans to discuss a draft bill requiring companies that go public with dual-class stock to sunset the structure after seven years, according to a copy of the proposed legislation published late Thursday.
Dual-class share structures, which give some stockholders more voting power, are out of favor among investors, but popular with fast-growing technology companies. U.S. investors have been pushing companies to abandon the structure for years but have stopped short of not investing in those firms.
