MarketWatch First Take: Zuckerberg and investors both win in split quit, thanks to Wall Street love of Facebook

Mark Zuckerberg and Facebook Inc. investors got exactly what they wanted Friday with the surprise news that the company dropped its controversial shareholder plan, thanks to Wall Street’s love of Facebook stock.

Facebook FB, -0.33% shares slipped slightly in after-hours, after the news that the company was withdrawing its plan to create a third class of nonvoting stock that would have cemented co-founder and Chief Executive Zuckerberg’s control. Facebook first announced the plan, called “Preserving Founder Led Structure to Focus on the Long Term,” in April 2016 to allow Zuckerberg to sell big chunks of his stock for his philanthropic efforts without gradually losing control of the company.

>>> Original Source <<<