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Pro Analysis

Breakingviews: If only Facebook’s faux governance was fake news

Marc Andreessen, co-founder and general partner of Andreessen Horowitz.
David Paul Morris | Bloomberg | Getty Images
Marc Andreessen, co-founder and general partner of Andreessen Horowitz.

Facebook's latest corporate-governance lapse reads like the sort of bad fake news that has been flowing through the social network. A lawsuit accuses board member Marc Andreessen of being in cahoots with Chief Executive Mark Zuckerberg over a controversial new class of stock. It's a fresh reminder to minority shareholders of just how they are regarded.