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Facebook Sued For Overpaying Directors

An irritated investor is suing Facebook and Mark Zuckerberg for letting company directors set their own salaries. “Facebook’s board paid non-employee directors an average of $461,000 last year in stock, exceeding industry peers by as much as 43%,” Bloomberg Business reports, citing allegations from shareholder Ernesto Espinoza. “Moreover, the members of the board are free to continue to award themselves virtually any amount of compensation they choose into perpetuity,” according to the complaint.
 

Read the whole story at Bloomberg Businessweek »

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