Facebook's Zuckerberg Chided by Judge Over Board Pay
- Delaware judge rejects company request to toss lawsuit
- Suit claims directors paid on average $461,000 in stock
Facebook Inc. Chief Executive Officer Mark Zuckerberg
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Mark Zuckerberg may be Facebook Inc.’s controlling shareholder, but when it comes to moves such as signing off on executive pay a state court judge says the billionaire still has to follow the rules.
Zuckerberg and the company’s board must face an investor’s claims that the world’s largest social network improperly allowed directors to set their own pay in 2013 and that he failed to correctly sanction the compensation decisions after the fact, Delaware Chancery Court Judge Andre Bouchard ruled Tuesday.