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Facebook co-founder Moskovitz scrambles to offload his shares

Posted By Adan On August 30, 2012 @ 8:08 am In Economic Crisis,Old Infowars Posts Style,Tile | Comments Disabled

Brid-Aine Parnell
The Register.co.uk
August 30, 2012

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Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks.

Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended.

Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground.

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