Mark Zuckerberg will no longer try to reclassify Facebook stock to fund his philanthropy

Mark Zuckerberg will no longer try to reclassify Facebook stock to fund his philanthropy

7 years ago
Anonymous $wKBR2uNMvM

https://www.recode.net/2017/9/22/16352442/mark-zuckerberg-share-classification-lawsuit-settlement-control-philanthropy

Facebook CEO Mark Zuckerberg will no longer try to reclassify the company’s stock, settling a major class-action lawsuit with shareholders.

Zuckerberg wanted to reclassify Facebook’s stock so he could sell shares — to fund the ambitious philanthropic projects he and his wife, Priscilla Chan, are leading — while retaining control of the company.

Mark Zuckerberg will no longer try to reclassify Facebook stock to fund his philanthropy

Sep 22, 2017, 11:16pm UTC
https://www.recode.net/2017/9/22/16352442/mark-zuckerberg-share-classification-lawsuit-settlement-control-philanthropy >Facebook CEO Mark Zuckerberg will no longer try to reclassify the company’s stock, settling a major class-action lawsuit with shareholders. >Zuckerberg wanted to reclassify Facebook’s stock so he could sell shares — to fund the ambitious philanthropic projects he and his wife, Priscilla Chan, are leading — while retaining control of the company.