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.