Facebook CEO Mark Zuckerberg testifies before the House Financial Services Committee on Capitol Hill, on Oct. 23, 2019. Photo: Diego M. Radzinschi/ALM Facebook Shareholders Can't Bypass Board to Pursue $90M Case
The case challenged a proposed reclassification effectively transferring the majority of founder and CEO Mark Zuckerberg's interest in Facebook without diminishing his voting power.
October 26, 2020 at 05:03 PM
4 minute read
Facebook shareholders must go through the company's directors to litigate a disputed stock reclassification plan, the Delaware Court of Chancery ruled Monday.
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