Dropbox (DBX) is facing pressure from activist investor Half Moon Capital to end founder control of the file-storage company, The Wall Street Journal’s Ben Glickman reports, citing people familiar with the matter. A shareholder proposal submitted by Half Moon seeks to remove Dropbox’s dual-class share structure, which gives CEO and co-founder Drew Houston a voting supermajority, as the structure has prevented shareholders from holding management accountable after it made “significant missteps,” the people say. Half Moon Capital holds around 40,000 Dropbox shares, recently valued at about $1.1M, Glickman notes.
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