Shortpedia Mobile App Download Shortpedia News App

Image Credit: Shortpedia

Pension fund sues Facebook director over handling of non-voting shares

A pension-fund recently sued Facebook directors for being too accommodating to create non-voting shares that Zuckerberg wanted to create to retain control after selling a majority of his stakes to fund philanthropic endeavours. The United Food and Commercial Workers Union's pension fund said that the directors should be held accountable for the way they have considered Zuckerberg's 'corrupted' proposal.