Sunday 1 May 2016

Facebook: quarrel shareholders. The case against Zuckerbergowi went to court

On the occasion of the announcement of results in the last Wednesday of April, the shareholders know the latest plans for the portal owner Mark Zuckerberg. He announced that the company "share the wealth" and create shares without voting rights. In this way, the billionaire plans to pay a dividend to holders of existing shares, while retaining control over the company. The case, however, has a second bottom.

According to the latest financial data Facebook earned only during the first three months of the year of about $ 1.5 billion. Thus, nearly tripled its profit last year.

The plans of the company founder, however caused dissatisfaction of other shareholders Facebook. One of them filed a lawsuit to stop the company from issuing new shares, calling it unfair move controlling shareholder portal, Mark Zuckerberg.


The lawsuit was filed in the office of the Court of Delaware shortly after the presentation of the results of Facebook and plans to issue new shares.

Reconstruction of the shareholding structure of the company, which manages the largest social networking world, it is de facto stock split in a ratio of 3 to 1. Zuckerberg said in December that it intends to 99 percent. belonging to its shares put in philanthropic project, working towards the use of human potential and equality.

Complainants argue that the Management Committee of Facebook, which approved the plan "not really bargained" with Zuckerbergiem to "achieve a clear value" in exchange for Zuckerbergowi additional control over the company.

Facebook said in a statement says that the plan "is in the best interest of the company and all its shareholders." Keeping Zuckerberg at the head of the company is to be the key to its future success.

Facebook plans to create new shares that will be listed on the stock market, but will not have voting rights. The Company will issue two new shares, so-called. "Class C" in exchange for each of the existing shares of Class A and Class B.

The new shares would be listed on the stock exchange under a new symbol.

Zuckerberg "is going to stay in power. By selling the majority of its shares, wants to continue to reap billions of dollars in revenues," written in the text of the lawsuit.

"The issue of shares Class C will have the same effect as a grant of billions of dollars for Zuckerberg in the form of new shares, for which the pay nothing," the release reads.

Google settled a similar case with the shareholders in 2013, shortly before the hearing.

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