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Facebook drops Class C plan - shareholder attorney
September 22, 2017 / 8:25 PM / a month ago

Facebook drops Class C plan - shareholder attorney

WILMINGTON, Del., Sept 22 (Reuters) - Facebook Inc has dropped its plan to issue Class C stock, according to an attorney who sued the company on behalf of a Facebook shareholder because the plan would have allegedly extended founder Mark Zuckerberg’s control over the company.

“We’re thrilled that Facebook has dropped the reclassification,” said an email statement from Stuart Grant of Grant & Eisenhofer. (Reporting by Tom Hals; Editing by Sandra Maler)

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