Mark Zuckerberg and current and former directors of Meta Platforms agreed to settle an $8 billion lawsuit alleging damage to the company through repeated violations of Facebook users' privacy. The settlement was reached quickly, only one-day into the trial at the Delaware Court of Chancery. Shareholders sought to hold the defendants liable for significant fines and legal costs incurred by the company, including a $5 billion FTC fine in 2019. While the defendants denied the allegations, the settlement was seen as a missed opportunity for accountability.
Mark Zuckerberg and current and former directors of Meta Platforms have agreed to settle claims for $8 billion related to privacy violations affecting Facebook users.
Shareholders sued Meta's leadership for liability over billions in fines and legal costs, seeking personal reimbursement from the defendants.
Defendants denied the allegations of repeated violations of user privacy but agreed to settle quickly after the trial began.
This settlement, while providing relief to parties, is viewed as a missed opportunity for public accountability.
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