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Priscilla Chan

How creating new Facebook stock will keep Mark Zuckerberg in control

How creating new Facebook stock will keep Mark Zuckerberg in control

When Facebook Inc. announced its first-quarter earnings Wednesday, a few things were clear: The number of users on the social network is climbing, its ad revenue is soaring and its shareholders have every reason to be smiling ear to ear.

The company’s stock jumped more than 7% on Thursday to a high of $116.73.

Less clear was the company’s proposal to create a new class of stock known as Class C shares.

RELATED: At Facebook, Mark Zuckerberg moves to tighten the gag on shareholders — and no one can stop...

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