This week, we learned that a shareholder is rather miffed at Twitter. Well, lots of shareholders are or were miffed at Twitter, but this particular shareholder is annoyed at the anti-vaxxer misinformation platform for essentially giving away 3% of itself in order to save founder Jack Dorsey’s skin from the malign and mysterious powers of Paul Singer and his Elliott Associates.
Turns out, that kind of thing may just be standard operating procedure in Silicon Valley.
The FTC also said in court that Facebook’s fine would have been closer to $106 million, but the company agreed to the $5 billion penalty to avoid having Zuckerberg or Chief Operating Officer Sheryl Sandberg deposed and any liability for the CEO, the suit alleged.
“The Board has never provided a serious check on Zuckerberg’s unfettered authority,” one set of shareholders said. “Instead, it has enabled him, defended him, and paid billions of dollars from Facebook’s corporate coffers to make his problems go away.”
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