Facebook’s (FB) Mark Zuckerberg Is Under Scrutiny For This

Unsealed court documents have revealed that Marc Andreessen, a fellow Facebook board member, may have ha inappropriate communication with Zuckerberg.

Zuckerberg had proposed earlier this year to create a new Facebook stock class, that would let him sell his Facebook shares all while not losing his majority voting status.

Andreessen as well as two other board members were appointed to a special committee to represent minority shareholders.

According to the court documents, Andreeesen is accused of advising Zuckerberg when he was supposed to represent the interest of investors. The documents show that he helped Zuckerberg by passing him inside information about the committee’s deliberations.

The stock reclassification is pending until the results of the lawsuit and would dilute the voting power of existing shareholders.

Disclaimer: We have no position in Facebook Inc. (NASDAQ: FB) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

sophia-villa has 1911 posts and counting.See all posts by sophia-villa