Meta Reaches Settlement in $8 Billion Privacy Lawsuit
Meta Platforms CEO Mark Zuckerberg, along with current and former company directors, has reached a settlement in an $8 billion lawsuit accusing them of violating Facebook users' privacy, according to a report by Reuters.
The report stated that Delaware Court of Chancery Judge Kathaleen McCormick on Thursday paused the case, which was entering its second day of trial. The details of the settlement have not been publicly disclosed.
The lawsuit, filed by investors, sought to recover losses for the company from the personal assets of Zuckerberg, Marc Andreessen, Sheryl Sandberg, and nine other executives.
The case followed a $5 billion fine imposed by the U.S. Federal Trade Commission (FTC) on Facebook in 2019 for violating a 2012 privacy protection agreement.
While the dispute has now been resolved out of court, some critics argue the settlement represents a missed opportunity for "collective accountability."
