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Meta shareholders look to haul CEO Mark Zuckerberg, Sheryl Sandberg to court
Meta shareholders argue that Zuckerberg, Sandberg and former VP Konstantinos Papamiltiadis violated their fiduciary duties over a 2012 consent order.
The trial, set to begin Wednesday in Delaware’s Court of Chancery, aims to hold Zuckerberg, former Meta COO Sheryl Sandberg and other former executives personally liable for the billions the company spent to resolve allegations that it failed to safeguard user data. Shareholders argue that Zuckerberg, Sandberg and former VP Konstantinos Papamiltiadis violated their fiduciary duties by “intentionally” failing to ensure compliance with a 2012 Federal Trade Commission consent order requiring the firm then known as Facebook to protect user privacy. Former PayPal executive Peter Thiel, former Biden White House chief of staff Jeff Zients and eBay CFO Peggy Alford are on the witness list as well, either for in-person testimony or recorded depositions.
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