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Proposal to combine common and class B common stock into a single class is still subject to approval by shareholders at a meeting scheduled for May 19.Roseland’s Curtiss-Wright (NYSE: CW) said Monday it has received a supplemental ruling from the Internal Revenue Service (IRS) that will permit the company’s proposed recapitalization of Common and Class B Common Stock into a single class of common stock.The recapitalization proposal still requires approval of a majority of the holders of both classes of stock voting as a single class and will be presented at the company’s annual meeting of stockholders scheduled for May 19.If the proposal is approved by stockholders, Curtiss-Wright’s Class B common stock (NYSE: CW.B) will be exchanged on a one-for-one basis for common stock (NYSE: CW). This will result in the elimination of the “CW.B” ticker and all of the current outstanding shares will begin trading under the “CW” ticker approximately five days after the annual meeting. Curtiss-Wright said it believes the recapitalization will benefit shareholders by providing increased trading liquidity, a simplified balance sheet and reduced administrative costs. At the close of trading Tuesday, Curtiss-Wright shares were down $1.22 to $55.48.