Facebook reportedly settled a lawsuit over Mark Zuckerberg’s voting power.
James Martin/CNET
Facebook is dropping a plan to restructure its stock, which would have allowed CEO Mark Zuckerberg to retain control of the company even as he planned to sell his shares for philanthropic causes.
Zuckerberg said Friday he’s still committed to his philanthropic efforts, but will fund it without the stock change.
“Over the past year and a half, Facebook’s business has performed well and the value of our stock has grown …
Read the full article at: https://www.cnet.com/au/news/facebook-reportedly-settles-lawsuit-over-voting-structure/