Facebook Faces Class-Action Over Proposal to Create New Stock Class

That was quick: Just days after Facebook announced a proposal to create a new class of common shares, the company is facing a class-action suit over the proposal.

That was quick: Just days after Facebook announced a proposal to create a new class of common shares, the company is facing a class-action suit over the proposal.

Facebook announced last Wednesday that its board of directors approved a proposal to create a new class of non-voting capital stock, class-C capital stock. The company said that if its proposal is approved, it will issue two class-C shares as a one-time dividend for each outstanding class-A and class-B share of common stock.

The

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