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How does that happen?
I heard LLL win BestPic and went to bathroom quickly (I had been holding it ugh). I came out quickly and Moonlight was on the stage. I love it! Steve Harvey curse on the Oscars!
It looks like someone picked up the best actress envelope which had just been announced, instead of the best movie envelope.
There are two sets of envelopes made for each category, it seems that the other Best Actress envelope was given (or taken) by mistake causing the flub.
Emma Stone had her envelope the whole time according to her, no conspiracy theory, no just playing dumb, it was a mistake. The real mistake was Beatty not stopping and asking for the actual envelope, he clearly realized something was wrong whereas Faye Dunaway probably just say the movie name and read it without realizing it was wrong.