Ron Burgundy Posted April 30, 2016 Share Posted April 30, 2016 By Dan Levine SAN FRANCISCO (Reuters) - A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company's plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder. The lawsuit, filed in the Delaware Court of Chancery, followed the social networking company's announcement on Wednesday of its plan to issue the shares. The rejiggering of Facebook's share structure is effectively a 3-for-1 stock split. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.