Zuckerberg controls about 60% of Facebook's voting shares, so the proposed change would represent only a limited check on his power, notes Trillium in a new shareholder proposal submitted on June 29 that would be voted on during the 2019 annual meeting.
At least 16 brokerages cut their price targets on Facebook after managers said the cost of improving privacy safeguards, as well as slowing usage in the biggest advertising markets, would hit the company's profit margins for more than two years.
The social media giant late on Wednesday reported 2.23 billion monthly active users (MAUs) - an increase of 11 per cent (year-over-year) which was its slowest growth in more than two years. It was among the biggest one-day losses of market value in USA stock market history.
The company lost about $119 billion in market value as its stock value dropped: It had been trading at $217.50 a share on Wednesday before the earnings report was released, but was down to $176.26 on Thursday, according to CNN.
Shares in Alphabet closed up 0.7 per cent, while those in Apple fell 0.3 per cent and Netflix closed barely higher. At that point, the stock was still recovering from an earlier battering over a major privacy scandal.
Facebook attributed the weaker outlook to unfavorable currency conditions, investments in new products and bolstered privacy tools that may put the brakes on breakneck revenue growth.
Many had come to consider Facebook nearly immune to image problems, especially after the most recent scandal involving the British company Cambridge Analytica.
Shares closed down nearly 19 percent, at $176.26. That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy.
Damage found on Laos dam day before collapse
The United Nations said at least 20 people are believed to have died and numerous missing may have been killed. When the dam failed, around 0.5 billion cubic meters of water was unleashed, according to KPL.
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Around the world, people will be able to view the longest lunar experience of the 21st century, lasting one hour and 43 minutes. The reason we don't get eclipses every month is because the moon orbits Earth on a slightly inclined plane of five degrees.
Local firefighters headed south to assist with fire in Riverside County
The fire was deliberately set, authorities say, by a 32-year-old Temecula man Wednesday afternoon. Helicopters and planes dumped water and fire retardant on the area.
At times, it has seemed as though Facebook can't quite decide where its values really lie. The report said the social media site's user base and earnings had not grown as much as expected. Analysts projected $13.3 billion.
In the USA and Canada, Facebook's daily active users remained flat sequentially at 185 million, while the number actually fell in Europe, falling to 279 million, down from 282 million.
As many as 87 million unwitting users may have had their information taken; Cambridge Analytica, however, says it licensed data for no more than 30 million people.
Facebook ad revenue also grew 42 percent year-over-year.
The company reported net income of US$5.11 billion, or US$1.74 a share, compared with analysts' average estimate of US$1.71 a share, according to data compiled by Bloomberg.
Facebook topped second-quarter earnings expectations on Thursday while revenue fell short.
Facebook is now down 3.2% this year. They could similarly disadvantage smaller, lesser known companies that don't have the resources to comply and which could face big fines if they don't.
One bright spot for Facebook has been Instagram, the photo-sharing app it bought for $1 billion in 2012.