Meta Directors, Shareholders Settle Privacy Suit
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Meta CEO Mark Zuckerberg and other board members of the social media giant settled a shareholder lawsuit Thursday, a day after a trial began in court over an $8 billion class-action lawsuit linked to the 2018 privacy scandal involving Cambridge Analytica, according to AFP.
An $8 billion US trial by Meta Platforms shareholders against Mark Zuckerberg and other current and former company leaders kicks off on Wednesday over claims that they illegally harvested the data of Facebook users in violation of a 2012 agreement with the U.
The first trial of oversight liability claims against a public company may prove riskier for Delaware’s elite business court and its chief judge than the expected star witness, Meta Platforms Inc. founder Mark Zuckerberg.
The class action lawsuit against Meta CEO Mark Zuckerberg and other leaders concerns privacy breaches related to Cambridge Analytica. Investors claim Meta failed to disclose risks as Facebook violated an FTC consent order.