Zuckerberg on Friday said that he could meet the charity pledge and maintain voting control of Facebook without the change. His decision followed a shareholder lawsuit opposed to the creation of a new class of stock. In December 2015 Zuckerberg and his wife, Priscilla Chan, a pediatrician, pledged to give away 99 per cent of their Facebook shares to charity. According to court records, Zuckerberg owns more than 400 million shares of Facebook. The decision came as Zuckerberg was scheduled to testify on Tuesday in Wilmington, Delaware, in a shareholder lawsuit seeking to halt the Class C stock plan, which had been approved by shareholders.

Source: New Strait Times September 22, 2017 23:15 UTC