NEW YORK (AP) — Mark Zuckerberg says the company is withdrawing plans to create a new class of stock that would have let the him keep tight reins on the company even as he sold down his stake to fund his philanthropy. A shareholder class-action trial over the stock reclassification in Delaware was to start next week.

Topics:  york ap     mark zuckerberg   delaware   zuckerberg   priscilla chan   ceo    a    zuckerberg   facebook   class of stock   company   philanthropy   plans   fund   trial   
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  • Facebook
    Facebook is an American online social media and social networking service company based in Menlo Park, California.Its website was launched on February 4, 2004, by Mark Zuckerberg, along with fellow Harvard College students and roommates Eduardo Saverin, Andrew McCollum, Dustin Moskovitz and Chris Hughes.. The founders initially limited the website's membership to Harvard students.
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  • Mark Zuckerberg
    Mark Elliot Zuckerberg (born May 14, 1984) is an American technology entrepreneur and philanthropist. He is known for co-founding and leading Facebook as its chairman and chief executive officer.. Born in White Plains, New York, Zuckerberg attended Harvard University, where he launched Facebook from his dormitory room on February 4, 2004, with college roommates Eduardo Saverin, Andrew McCollum ...
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    Facebook investors boasting nearly $3 billion (£2.3 billion) in shares are making moves to topple Mark Zuckerberg as chairman and tear apart his power base at the company.
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