Meta shareholders have sued Mark Zuckerberg and the rest of Meta’s board to stop a plan for a new class of non-voting shares. They filed the class action in the Delaware Court of Chancery on Tuesday, 27 October. Ryan Knappenberger reported it for Courthouse News .

The plaintiffs are two Steamfitters Local 449 funds and two individual investors, Bruce Taylor and Ronald Mumme. They sue on behalf of Meta’s Class A stockholders. They want the court to block the plan before it takes effect on 19 January 2027, when more than 2.5 billion Class C shares would start trading.

“Zuckerberg has always been fixated with his control over Meta,” the plaintiffs wrote in the complaint.

What the shareholders claim

Under the plan, every shareholder gets one non-voting Class C share for each share they own. Zuckerberg can sell his new shares to pay California’s proposed wealth tax .…