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When Facebook went public, its disclosure document said: As a board member and officer, Mr.
When Facebook went public, its disclosure document said:
As a board member and officer, Mr. Zuckerberg owes a fiduciary duty to our stockholders and must act in good faith in a manner he reasonably believes to be in the best interests of our stockholders. As a stockholder, even a controlling stockholder, Mr. Zuckerberg is entitled to vote his shares in his own interests, which may not always be in the interests of our stockholders.
Should corporate laws permit Zuckerberg to control the company without imposing a duty to act in the best interests of the other shareholders?
