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
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in