Facebook shareholders News

Together the shareholders hold roughly $35 million worth of Twitter stock and roughly $1.1 billion of Facebook

Shareholders have proposed that Facebook Inc prepare a report on the threat to democracy and free speech from so-called fake news spread on the social media forum, and the dangers it may pose to the company itself, according to a proxy filing made on Friday.

Facebook Inc shareholders approved a proposal to create a new class of non-voting shares, a move aimed at letting Chief Executive Officer Mark Zuckerberg give away his wealth without relinquishing control of the social media company he founded.

A federal appeals court on Friday said Facebook Inc officials including Chief Executive Mark Zuckerberg cannot be sued by shareholders who said the social media company concealed threats to its growth prospects before its May 2012 initial public offering.