3 ms·

This is a derivative suit (civil, not criminal) brought by a shareholder alleging Zuckerberg violated his fiduciary duties to shareholders in a number of ways.

• anticensor 8y ago
  He is the biggest shareholder and has the supermajority of voting shares, how can he violate his own benefit? He can only violate fiduiciary duties towards smaller shares.
  • elliekelly 8y ago
    You've actually just made me realize I overstated his duty to shareholders in my original comment but it's too late to edit. My apologies. A director doesn't owe a fiduciary duty (which is the highest standard of care one person can owe another) but a duty of "care and loyalty" which is a step below a fiduciary. The outcome is the same though. A director's "duty of loyalty" means that he or she cannot personally benefit at the expense of the corporation or it's shareholders. The number of shares he owns and the voting power is irrelevant as the duty applies to all shareholders.