Facebook hit with class action lawsuit over plan to issue new stock

Facebook plans to create a new class of shares that are publicly listed but do not have voting rights
A Facebook Inc shareholder filed a proposed class action lawsuit on Friday in a bid to stop the company’s plan to issue new Class C stock, calling the move an unfair deal to entrench Chief Executive Mark Zuckerberg as controlling shareholder.
The lawsuit, filed in the Delaware Court of Chancery, followed the social networking company’s announcement on Wednesday of its plan to issue