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News Link • Corruption

Facebook Is Setting Off Tons Of Corporate Governance Red Flags

•, GMI Ratings
 Facebook Inc. founder Peter Thiel cashes out with $1 billion. Stakeholders have to ask, is this someone you really want on the board?

By Greg Ruel, Senior Research Associate

On August 20, 2012, an SEC Form 4 form was released for Facebook founding investor and board member Peter Thiel, showing 20 million shares sold for a profit of nearly $400 million. Since May 22, 2012, total company stock sales for the Facebook director have eclipsed $1 billion.

Raising eyebrows, the venture capitalist dumped 80 percent of his remaining shares, essentially cashing out shortly after the required trading lock-down for investors was lifted. At GMI Ratings, we’ve rated the company a solid “D” since its IPO.

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