Meta Directors, Shareholders Settle Privacy Suit
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Meta shareholders abruptly settled an $8 billion lawsuit accusing Mark Zuckerberg and other executives of oversight failures in Facebook's privacy practices, allowing them to avoid public testimony in the first-ever Caremark trial over data governance.
Mark Zuckerberg and current and former directors and officers of Meta Platforms agreed on Thursday to settle claims seeking $8 billion for the damage they allegedly caused the company by allowing repeated violations of Facebook users' privacy,
Shareholders claim that Mark Zuckerberg and other top officials should have to reimburse Facebook for $8 billion in fines and penalties.