Mark Zuckerberg to testify in investor lawsuit

Jamie McKane

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Mark Zuckerberg to testify in investor lawsuit

Facebook Inc. co-founder Mark Zuckerberg has to explain in court why he dropped a plan to create non-voting shares, which would’ve allowed him to retain control of the world’s largest social-media company after selling most of his stake to fund charitable works.

Delaware Chancery Court Judge Travis Laster ordered Zuckerberg to testify Nov. 19 in a lawsuit brought by investors to recoup legal fees incurred in stopping the plan. Zuckerberg abandoned the push for the new shares last year.

[Bloomberg]
 
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