Facebook Shareholders Shoot Down 'One Share, One Vote' Proposal

Raise your hand if you thought this was a good idea. If you raised your hand and own Class B shares, I'll count your hand ten times.

A proposal to give Facebook Inc's (FB.O) stockholders one vote per share was rejected at the company's annual meeting, according to preliminary results. The stockholder proposal was filed to change Facebook's voting practices. Ordinary investors own Class A common shares, which provide one vote per share, but Facebook's Class B shares are worth 10 votes each.

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