Facebook Inc (NASDAQ:FB) CEO, Mark Zuckerberg, owns almost a third of his company, according to the most recent U.S. regulatory filing. The Securities and Exchange Commission filing shows that he owns more than 632 million shares of Facebook. In September, he owned a little over 500 million shares of the company’s stock and promised he would keep his shares for at least a year. He has certainly kept that promise.
Zuckerberg did sell about 30 million shares of his company’s stock at its initial public offering in May. One SEC filing shows that Zuckerberg received about 18 million shares of his company in December for free, those shares were part of his compensation.
Meanwhile, Facebook Inc (NASDAQ:FB) has also gotten a judge to toss out four lawsuits filed by shareholders after the company’s IPO last May. Reuters reports that the investors who filed the suits were not able to establish their right to file suit because they did not own shares of Facebook at the time when they claim the wrongdoing happened.
The judge did give the plaintiffs the option to revise their suits and then file them again, but they must re-file those suits within 20 days.
Top value fund managers are ready for the small cap bear market to be done
During the bull market, small caps haven't been performing well, but some believe that could be about to change. Breach Inlet Founder and Portfolio Manager Chris Colvin and Gradient Investments President Michael Binger both expect small caps to take off. Q1 2020 hedge fund letters, conferences and more However, not everyone is convinced. BTIG strategist Read More
Currently, the company still faces several other lawsuits from several plaintiffs in connection with it’s IPO. Most of the allegations claim that the company’s executives did not disclose adequate financial information before the company went public. Thus far, 53 of those lawsuits have been consolidated.
Trading on shares of Facebook Inc (NASDAQ:FB) was flat in pre-market trades on Thursday.