06:11 AM EDT, 03/25/2025 (MT Newswires) -- Dropbox ( DBX ) activist investor Half Moon Capital has proposed the removal of the company's dual-class share structure, claiming that it gives chief executive officer and co-founder Drew Houston control over the cloud storage company, the Wall Street Journal reported late Monday, citing people familiar with the matter.

Half Moon also claimed in the shareholder proposal that the structure prevents Dropbox ( DBX ) investors from holding the management accountable for their mistakes as revenue growth continues to slow, the report said.

Half Moon's proposal will be put to a vote at the company's annual meeting, the report said.

Dropbox ( DBX ) did not immediately respond to MT Newswires' request for comment.