1. Facebook Investors Press Suit On Shares

    Facebook Investors Press Suit On Shares

    Facebook Inc.'s move to change its capital structure was tainted by secret text messages and meddling from financial advisers that pointed to a process rife with conflicts of interest, according to investor lawsuits filed in Delaware. Late last summer, Chief Executive Mark Zuckerberg asked the board to approve a plan to create a new class of nonvoting shares that would allow him to maintain control of the company he co-founded...

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  2. Quotes

    1. It is clear that the process surrounding the reclassification was rife with actual, acted-upon conflicts of interest.
    2. Facebook is confident that the special committee engaged in a thorough and fair process to negotiate a proposal in the best interests of Facebook and its shareholders.
    3. Erskine is just massively uncomfortable with you getting to low economic ownership and then going off on leave with no involvement by the board and retaining control.
    4. The cat's in the bag and the bag's in the river.
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