| Updated:
FACEBOOK UNDER FIRE FOR STOCK STRUCTURE
Facebook’s proposed shareholder structure, outlined ahead of its forthcoming IPO, has failed to impress Institutional Shareholder Services. The proxy advisory group criticised the social network’s dual-class stock – which will give Zuckerberg (pictured) voting control of 57 per cent of Facebook – for diminishing shareholder rights. ISS also condemned the limited board accountability at Facebook, which as a controlled company is not required to have a majority independent board.
Picture: GETTY