Meta shareholders sue Zuckerberg over non-voting share plan

Two Steamfitters Local 449 funds and two individual investors filed a class action in Delaware's Court of Chancery against Mark Zuckerberg and Meta's board. They seek to block the Class C non-voting share plan before more than 2.5 billion shares begin trading on 19 January 2027.

• Suit filed 27 October in Delaware on behalf of Class A stockholders
• Plan grants one non-voting Class C share for each share held
• Zuckerberg controls 60.6% of votes via ten-vote Class B shares
• Plaintiffs cite a ruling that blocked a similar plan at Cloudflare